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Harris Corporation has $425 million in cash, and 94 million shares outstanding. Suppose the corporate tax rate is 24%, and investors pay no taxes on dividends, capital gains, or interest income. Investors had expected Harris to pay out the $425 million through a share ropurchase. Suppose instead that Harris announces it will permanently retain the cash, and use the interest on the cash to pay a regular dividend. If there are no other benefits of retaining the cash, how will Harris' stock price change upon this announcement? After the announcement Harris' stock price will by $ per share. (Select from the drop-down menu and round the share price to three decimal places.) rise fall 17-11 (similar to) Question Help The HNH Corporation will pay a constant dividend of $2.00 per share, per year, in perpetuity. Assume all investors pay a 25% tax on dividends and that there is no capital gains tax. Suppose the other investments with equivalent risk to HNH stock offer an after-tax return of 10% a. What is the price of a share of HNH stock? b. Assume that management makes a surprise announcement that HNH will no longer pay dividends but will use the cash to repurchase stock instead. What is the price of a share of HNH stock now? a. What is the price of a share of HNH stock? The price is $ per share. (Round to the nearest cont.)