Please use the information in the photo to answer the questions. Thank you

1) Based on the concept of the climate effect, which one of these combinations correctly aligns in investor group with its preferred type of stocks? A) low-tax bracket individuals, zero-to-low dividend payout stocks B) high-tax bracket individuals. high dividend payout stocks 0) corporations, zero-to-low dividend payout stocks D) tax-free institutions, medium dividend payout stocks 2) A put option and a call option on a stock have the same expiration date and the same exercise (or strike) price. Both options expire in 6 months. Assume that put-call parity holds and interest rate is positive. If both call and put options have the same price, which one of the following true? A) Put option is in-the-money B) Call options is in-the-money 0) Both call and put options are in-the-money D) Both call and put options are out-of-the-money 3) A firm has estimated the residual earnings per share of stock for the next three years to be $0.50, $0.55, and $0.59, respectively. The residual earnings are expected to grow at 5 percent annually forever. The current book value of equity $15 per share and the required return on equity is 12%. What should be the current per share value of equity (i.e, the stock price per share in year 0)? A) $7.60 B) $20.53 C) $22.61 D) $25.15