Required: a) Harry Inc, a manufacturer of jigsaw puzzles, just reported that its main production facility was destroyed in a fire, and free cash flow is expected to drop by $100 million over the next 5 years, (1) In an efficient market, what will happen to the share price when this information is announced? Explain. [1 mark) (11) What form(s) of market efficiency may enable insiders (e.g. the CEO of the firm) to make a profit in trading Harry Inc shares based on information about the fire? Explain. [2 marks) b) Define systematic risk and unsystematic risk. Which type of the two can be eliminated, and how? Explain. [3 marks] c) Define dividend smoothing. Explain why this policy enables managers to signal information to investors. [2 marks] IType your answer into the answer box, NOT into the Notes box, uploading file is NOT accepted]