The board of directors of API, a relatively new electronics manufacturer, has decided to continue paying a common stock dividend to increase the stock's attractiveness in the free market. The board plans to pay $3.00 per share in the coming year (i.e., next year) and anticipates that its future dividends will increase at an annual rate consistent with that experienced over the period from 20X0-20X3 (see below). The company currently has a beta of 1.1, the rate of return for the market is expected to be 10%, and the risk-free rate is currently 4%. Given this scenario, what is the current value of API's common stock? If the current market price is $40.00 per share, should you purchase this stock? Briefly explain your answer. (HINT: This problem requires a three-part calculation to solve it). Your submission must be in MS Excel with a professional appearance. All original problem data is displayed and labeled on the surface of Excel, with all calculations linked to the original problem data and embedded in the cells (do NOT round your interim calculations). Each student must complete this assignment