Merton Miller and Franco Modigliani (M&M) showed us that in a perfect world, dividend policy does not matter. Which of the following statements are correct based on M&M's dividend irrelevance theorem: Select one: a. For dividend irrelevance to hold, the firm must earn an ROE equal to the shareholder's required rate of return b. For dividend irrelevance to hold, the firm must reinvest the funds not paid out as dividends today and then pay a larger dividend in the future c. If dividend irrelevance is true, the investor can use homemade dividends to create their own desired level of dividends d. All of the above are true e. Only a, and c. above are true