Shatin Intl. has 10.3 million shares, an equity cost of capital of 13.3 % and is expected to pay a total dividend of $ 20.7 million each year forever. It announces that it will increase its payout to shareholders. Instead of increasing its dividend, it will keep it constant and will start repurchasing $ 10.1 million of stock each year as well. What is your estimate of Shatin's stock price after this announcement?

Iceberg storage, a leading hard drive manufacturer, recently filed for bankruptcy. while most of iceberg's competitors were shifting away from physical data storage devices toward online cloud storage services, iceberg invested most of its retained earnings in the effort to improve its hard drives. once the hard-drive market drastically declined, iceberg storage was unable to capitalize on the new technology. which of the following does this scenario best illustrate a. causal ambiguity b. knowledge diffusion c. social complexity d. path dependence