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(d) Suppose you own 8,000 shares of Upward Mobility Inc. and the firm has a DRIP program. Upward Mobility pays dividends at the rate of

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(d) Suppose you own 8,000 shares of Upward Mobility Inc. and the firm has a DRIP program. Upward Mobility pays dividends at the rate of $3.50 per share per year and has a current price of $60 per share. Required: (i) How many additional shares of stock can you receive if you elect to receive dividends via the DRIP option? (3 points). (ii) What advantage over purchasing the stock on the open market does a DRIP plan offer? ( 3 points)

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