In answering the below questions, refer to the nancial statements of XYZ Corp. on the next page. Assume that XYZ is governed by the MBCA and has 100,000 shares of common stock outstanding. 1. On January 3 of 2015, XYZ convinces a hedge fund to loan it $1 million dollars, which XYZ intends to immediately pay out to its shareholders as a dividend. The loan carries an interest rate of 15 percent. All interest and principal on the loan is due and payable in one lump sum in two years. Can XYZ legally pay the contemplated dividend? Assuming it can, list the corporate law steps it must take to do so. 2. Assume instead that XYZ decides to pay out the $1 million to Sjostrom, its controlling shareholder, by buying back some of his stock. Can XYZ legally do this? Assuming it can, list the corporate law steps it must take to do so. 3. An XYZ director is nervous about personal liability if she votes in favor of the proposed dividend. She asks you for advice on what she can do to minimize this risk. What do you tell her