AMC Corporation currently has an enterprise value of $310 million and $110 million in excess cash. The rm has 25 million shares outstanding and no debt. Suppose AMC uses its excess cash to repurchase shares. After the share repurchase, news will come out that will change AMC's enterprise value to either $510 million or $110 million. Suppose AMC management expects good news to come out. If management wants to maximize AMCE ultimate share price. will they undertake the repurchase before or after the news comes out? When would management undertake the repurchase if they expect bad news to come out? What effect would you expect an announcement of a share repurchase to have on the stock price? To maximize its share price. when will AMC prefer to repurchase shares? (Select the best choice below.) 0 A. Before good news and after bad news comes out. 0 B. After good news and before bad news comes out. 0 C. After either good or bad news comes out. 0 D. Before either good or bad news comes out. Given your answer above, what effect would you expect an announcement of a share repurchase to have on the stock price? (Select the best choice below.)