17. Braaf Ltd has 100,000 shares on issue currently trading at $40 per share and is trying to determine whether they should distribute $100,000 in excess cash via dividends or via a share repurchase. Rodney owns 1,000 shares in Braaf Ltd and could use $1,000 of cash at the moment. Assuming perfect capital markets, free of taxes, information costs, transaction costs etc., demonstrate why Rodneys financial position should be unaffected by Braaf Ltds decision to pay the dividend, repurchase the shares or do neither.