Clovix Corporation has $48.96 million in cash, 10.2 million shares outstanding, and a current share price of $32. Clovix is deciding whether to use the $48.96 million to pay an immediate special dividend of $4.80 per share, or to retain and invest it at the risk-free rate of 10% and use the $4.9 million in interest earned to increase its regular annual dividend of $0.48 per share. Assume perfect capital markets. a. Suppose Clovix pays the special dividend. How can a shareholder who would prefer an increase in the regular dividend create it on her own? b. Suppose Clovix increases its regular dividend. How can a shareholder who would prefer the special dividend create it on her own? C. a. Suppose Clovix pays the special dividend. How can a shareholder who would prefer an increase in the regular dividend create it on her own? (Select the best choice below.) O A. Borrow $32 today and use it to buy a share of Clovix stock. O B. Borrow $4.80 today and use the increase in the regular dividend to pay the interest of $0.48 per year on the loan. OC. Sell a share of Clovix stock for $32 today and invest the proceeds to earn $3.20 in interest. OD. Invest the $4.80 special dividend and earn interest of $0.48 per year. b. Suppose Clovix increases its regular dividend. How can a shareholder who would prefer the special dividend create it on her own? (Select the best choice below.) O A. Sell a share of Clovix stock for $32 today and invest the proceeds to earn $3.20 in interest. O B. Invest the $4.80 special dividend and earn interest of $0.48 per year. O C. Borrow $32 today and use it to buy a share of Clovix stock. O D. Borrow $4.80 today and use the increase in the regular dividend to pay the interest of $0.48 per year on the loan