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QUESTION 2 a. Assume that you are advising a Nigerian firm on corporate financial questions and that you do not believe that the Nigerian stock market is efficient. Would you recommend stock price maximization as the objective? If not, what would you recommend? b. Maximizing stock prices does not make sense because investors focus on short-term results and not on the long-term consequences. Comment. C. Felecia plc. has chosen a plowback ratio of /3. Assume that equity outstanding at the start of the year is 600, and that outstanding assets at the start of the year are 1,000. Because net income during 2019 is 96. Required: Estimate both the internal and sustainable growth rate. d. Shuperu Itd. is proposing a rights offering. Presently there are 400,000 shares outstanding at GHe73 each. There will be 50,000 new shares offered at GHe65 each. i. What is the new market value of the company? ii. How many rights are associated with one of the new shares? iii. What is the ex-rights price? iv. What is the value of a right? v. Why might a company have a rights offering rather than a general cash offer