The stock of No o Corporation is currenty selling for $25 per share. Earnings per share in the coming year are expected to be S4 earnings each year in dividends. The rest is retained and invested n projects that earn a 16% rate of return per year. This situation is expected toco nuer dentely The company has a polcyof paying out 50% of its a. Assuming the current market price of the stock reflects its intrinsic value as computed using the constant growth DDM, what rate of retun do Nogro's investors requre? (Do not round intermediate calculations.) Rate of return 1 % b. By how much does its value exceed what it would be if all earnings were paid as dividends and nothing were reinvested? PVGO c-1. If Nogro were to cut its dividend payout ratio to 25%, what would happen to its stock proe? O Stock price would be unaffected O Stock price would be decreased O Stock price would be increased c-2. If Nogro eliminated the dividend, what would happen to its stock price? O Stock price would be unaffected O Stock price would be decreased O Stock price would be increased e9