QUESTION 3: TF,AB,&HY are all equity financed firms. They follow a 100%,70% and 30% dividend payout policies respectively. TF expects before personal tax return of $5,AB of $4, and HY of $7 per year in perpetuity. TF's share is selling for $40. It has beta of 1.2. AB is twice as risky as TF and HY is 80% as risky as AB. Market risk premium is 4%. What should the current share prices of AB and HY be? Assume the marginal personal tax rate on dividends is 28% and on capital gains 23%