EFG Corp has $150 million of excess cash. The firm has no debt and 50 million shares outstanding, with a current market price of $18 per share. EFG's board has decided to pay out this excess cash as a one-time dividend. c. In a perfect capital market, which policy, in part (a) or (b), makes investors in the firm better off? (5 marks) d. Suppose the board of EFG Corp decided to do the share repurchase in part (b), but you, as an investor, would have preferred to receive a dividend payment. How can you leave yourself in the same position as if the board had elected to make the dividend payment instead? (5 marks) EFG Corp has $150 million of excess cash. The firm has no debt and 50 million shares outstanding, with a current market price of $18 per share. EFG's board has decided to pay out this excess cash as a one-time dividend. c. In a perfect capital market, which policy, in part (a) or (b), makes investors in the firm better off? (5 marks) d. Suppose the board of EFG Corp decided to do the share repurchase in part (b), but you, as an investor, would have preferred to receive a dividend payment. How can you leave yourself in the same position as if the board had elected to make the dividend payment instead