KMS Corporation has assets with a market value of $ 426 million, $ 25 million of which are cash It has debt of $ 224 million, and $15 million shares outstanding Assume perfect capital markets 

a What is its current stock price 

b If KMS distributes $ 25 million as a dividend, what will its share price be after the dividend is paid 

c If instead, KMS distributes $ 25 million as a share repurchase, what will its share price be once the shares are repurchased 

d What will its new market debt-equity ratio be after either transaction?