7. We know many firms choose to repurchase their own common stock in the open marketplace. Under what conditions might this type of activity be beneficial to the firm and why might firm stakeholders support the decision? 8. Nobel laureates Modigliani and Miller have proffered that the value of an asset should not differ based on the discretionary choices of the firm's capital stakeholders. Explain why this may be true and discuss the valuation model inputs commonly used to reflect reflective their expectation. 9. Explain as much as you can about the CAPM equation and provide its illustrative graphic model. Be sure to include an explanation of each variable and each of the term's structural elements