Integrative - Risk and Valuation Hamlin Steel Company wishes to determine the value of Craft Foundry, a firm that it is considering acquiring for cash. Hamlin wishes to determine the applicable discount rate to use as an Input to the constant-growth valuation model Craft's stock is not publicly traded. After studying the required returns of firms similar to Craft that are publicly traded, Hamlin believes that an appropriate risk premium on Craft stock is about 9%. The risk-free rate is currently 6%. Crafts dividend per share for each of the past 6 years is shown in the following table: a. Given that Craft is expected to pay a dividend of $2.68 next year, determine the maximum c ph price that Hamlin should pay for each share of Craft. (Hint: Round the growh rate to the nearest whole percent.) b. Describe the effect on the resulting value of Craft from: (1) A decrease in its dividend growth rate of 2% from that exhibited over the 2014-2019 period (2) A decrease ipitsuriknramiumin 8% Data table a. The required ret (Click on the icon here p in order to copy the contents of the data table below into a spreadsheet.)