need the solution. I have the answers but need the solution.

FIN 3154 Practice Problems III: Payout Policies - M&As Problem 1: Irrelevant Choices An all equity firm with 10,000 shares outstanding and required rate of return 10% has constant, annual earnings $150,000 forever, which are distributed as dividends. There are no taxes. 1. Estimate the stock price at the ex-dividend day and the day before, the constant, annual dividend, and firm value at the ex-dividend date. S000 000 'I =" 'SSIT -- id 'SOOT = " $91 = I amSuy 2. Suppose only for the current dividend (D.) the firm wants to increase it to $20 by issuing new equity. What will be the constant dividend starting from next year? The firm should raise an additional $50,000 (55.10,000 shares). For this amount, the new shareholders will require an annual payoff of 50,000.0.15 7,500$. $9+ = sa z MSUY 3. What will be the price of the stock (old shareholders) on the ex-dividend date and the day before, under the new policy? $96 = "" 'SSII = 1- d samsuy 4. How many new shares should the firm issued saunys mou S'9ZS Jamsuy