KMS Corporation has assets with a market value of $$593$ million, $$28$ million of which are cash. It has debt of $$257$ million, and $10$ million shares outstanding. Assume perfect capital markets.

a$.$ What is its current stock price?

b$.$ If KMS distributes $$28$ million as a dividend, what will its share price be after the dividend is paid?

c$.$ If instead, KMS distributes $$28$ 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 $