If you were to argue that the firm's cost of equity, r_s, increases as the dividend payout decreases, you would be making an argument ____ with MM's dividend irrelevance theory, and ____ with the theory that investors prefer dividends received in the current period rather than capital gains received in the future. MM = miller and modigliani

Select one:

a. consistent; consistent

b. inconsistent; consistent

c. inconsistent; inconsistent

d. consistent; inconsistent