Maynard steel plans to pay a dividend of $ 3.18 this year. the company has an expected earnings growth rate of 3.9 % per year and an equity cost of capital of 9.8 %. a. assuming maynard's dividend payout rate and expected growth rate remain constant, and that the firm does not issue or repurchase shares, estimate maynard's share price. b. suppose maynard decides to pay a dividend of $ 0.97 this year and use the remaining $ 2.21 per share to repurchase shares. if maynard's total payout rate remains constant, estimate maynard's share price. c. if maynard maintains the dividend and total payout rate in (b), at what rate are maynard's dividends and earnings per share expected to grow?

Afirm wants to hire a project manager (pm) at a salary of $100,000. 30% of pms have high ability, and 70% of pms have low ability. high ability pms generate $120,000 in revenue and low ability pms generate $80,000 in revenue. in addition to differences in productivity, high and low ability pms have different outside offers. if a high ability pm is not hired by the firm, she can work for another company at a salary of $80,000. if the low ability pm is not hired by the firm, she can work for another company for $70,000. high ability pms are also able to get a project management professional (pmp) certification at a cost of $1,000. low ability pms are unable to get a pmp certification (they would fail the test). the firm is not able to observe a pm’s ability, but is able to observe and verify whether or not the pm has a pmp certificate.(a) draw the extensive form of the game.expert answer