5. DividendAll Corp. has the following market value balance sheet: is has 2n no taxes Show the impact (1) on the balance sheet and (2) Jack Doe portfolio (cash level, number of share, shares value) of the following (four events): a. An $10 million dividend b. An $10 million share bubback. c. A 10% stock split. d. A five for one ( one to five) stock split. e. Assume the original balance sheet. How can Jack Doe create his $500 homemade dividend? f. Assuming no transaction cost determine Jack Doe preferences between (a) and (b) 1. Dividends are taxed as regular income, while capital gains are taxed at 15% only. 2. Dividends and capital gains are taxed at the same 15% reduced tax rate