Downing Enterprises is a no-growth firm that pays cash dividends of $8 per year. Its current required rate of return is 12%. a. What is Downings current market price? b. Management is considering an investment that will convert the firm into a constant-growth firm, but it requires stockholders to forgo cash dividends for the next 6 years. When cash dividends are resumed in year 7, they will be $8 plus the expected constant growth of 11% [i.e., ($8)(1.11)] from year 6 to infinity. If its new required return is 16%, will the stockholders be better off? c. What happens if everything is the same as in (b), except that the growth rate is only 10%.