please answer all parts (a,b,c) asap. And bold answers so they are clear. thank you

Assume capital markets are perfect. Kay Industries currently has $150 million invested in short-term treasury ble paying 6%, and it pays out the interest payments on these securities as a dividend. The board is considering selling the treasury bills and paying out the proceeds as a one-time dividend payment. Assume that Kay must pay a corporate tax rate of 35%, and investors pay no taxes. a. If the board went ahead with this plan, what would happen to the value of Kay's stock upon the announcement of a change in policy? b. What would happen to the value of Kay's stock on the ex-dividend date of the one-time dividend? c. Given these price reactions, will this decision benefit investors ? a. If the board went ahead with this plan, what would happen to the value of Kay's stock upon the announcement of a change in policy? (Select the best choice below.) O A. The value of Kay would remain the same B. The value of Kay would rise by $150 million OC. The value of Kay would fall by $150 million. OD. The value of Kay would rise by $150 x 35% = $53 million