Suppose that a share of Apple had a closing price yesterday of $$140,$ but new information was announced after the market closed that caused a revision in the forecast of the price for next year to go to $$170(7$ Points$)$a$.$ If the annual equilibrium return on Apple is $10\%,$ what does the efficient market hypothesis indicate the price will go to today when the market opens? $($Assume that Apple pays no dividends$)(2\mathrm{.}5$ Points$)$b$.$If the annual equilibrium return on Apple is $10\%,$ what does the efficient market hypothesis indicate the price will go to today when the market opens? Assume that Apple pays dividends equal to $$5(2\mathrm{.}5$ Points$)$c$.$ If the annual equilibrium return on Apple is $10\%,$ while the optimal forecast of the return is $25\%,$ what does it imply for market efficiency? Why? $(2$ Points$)$