You have finally saved? $10,000 and are ready to make your firstinvestment. You have the three following alternatives for investingthat? money: A Microsoft bond with a par value of ?$1 comma 000that pays 10.00 percent on its par value in? interest, sells for?$1,112.43?, and matures in 18 years. bullet Southwest Bancorppreferred stock paying a dividend of ?$2.84 and selling for?$20.57. bullet Emerson Electric common stock selling for ?$62.47?,with a par value of? $5. The stock recently paid a ?$1.51?dividend, and the? firm's earnings per share has increased from?$2.23 to ?$3.74 in the past 5 years. The firm expects to grow atthe same rate for the foreseeable future. Your required rates ofreturn for these investments are 9.00 percent for the? bond, 13.50percent for the preferred? stock, and 13.50 percent for the commonstock. Using this? information, answer the following questions. a.Calculate the value of each investment based on your required rateof return. b. Which investment would you? select? Why? c. AssumeEmerson? Electric's managers expect an earnings to grew at 3percent above the historical growth rate. How does this affect youranswers to parts ?(a?) and ?(b?)? d. What required rates of returnwould make you indifferent to all three? options?