provide me with the explanation for the following questions

What impact would the interest tax shelter have on the ZSC stock price?

What is the impact of the repurchase on ZSC's cost of equity and risk?

What impact would the repurchase have on ZSC earnings per share in 2021, assuming the repurchase takes place on January 1, 2021?

What impact will a repurchase have on ZSC's current P/E ratio (14x), in your opinion?

What is the current stock price if you value the business after the repurchase based on your view of the correct P/E ratio and the 2021 EPS?

According to Myron Gordon and John Lintner, as the dividend payout ratio is reduced, the necessary return on equity rises. Their claim is predicated on the premise that

a. Dividends and capital gains are unimportant to investors.

b. Since capital gains are taxed at a lower rate than dividends, investors prefer a dollar of projected capital gains to a dollar of expected dividends.

c. Dividends are seen as less risky than possible future capital gains by investors.

d. Investors expect the dividend yield and capital gains yield to be the same.

e. dividends are taxed at a lower rate than capital gains.

Explain the following in details.

3. What impact will the following events have on the cash position of a form?

a. Revenues that are rapidly increasing

b. A failure to pay bills on time

c. A more lenient credit policy for sales (to the company's clients)

d. Keeping a bigger inventory

4. A cash budget is commonly thought of as a way of anticipating potential financial requirements. Why is a cash budget essential for a company with a lot of cash on hand?