KMS Corporation has assets with a market value of $566 million, $45 million of which are cash. It has debt of $220 million, and 11 million shares outstanding. Assume perfect capital markets. a. What is its current stock price? b. If KMS distributes $45 million as a dividend, what will its share price be after the dividend is paid? c. If instead, KMS distributes $45 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?

a. What is its current stock price? KMS Corporation's current stock price is $________per share. (Round to the nearest cent.)

b. If KMS distributes $45 million as a dividend, what will its share price be after the dividend is paid? If KMS distributes $45 million as a dividend, KMS Corporation's share price after the dividend is paid will be $___________per share. (Round to the nearest cent.)

c. If instead, KMS distributes $45 million as a share repurchase, what will its share price be once the shares are repurchased? If instead, KMS distributes

$45 million as a share repurchase, KMS Corporation's share price after the shares are repurchased will be $______________per share. (Round to the nearest cent.)

d. What will its new market debt-equity ratio be after either transaction? After either transaction, the debt-to-equity ratio is ____________(Round to two decimal places.)