QU Question 25 (1 point) Dividend policy is most likely irrelevant in the Miller and Modigliani theorem because: Question 25 options: a. the transactions costs of issuing common stock to pay for a dividend that the firm needs to pay are minimal. b. investors can easily substitute capital gains for dividends. c. the value of the firm is determined by the value of its assets if sold immediately. Question 26 (1 point) Alpha Inc. has 5 million shares outstanding. The stock is currently trading for $40 with an EPS of $1.60 and a P/E multiple of 25. The company's directors announce a 10% stock dividend. Given that Sonia had initially purchased 1,200 shares of Alpha Inc. for $36/share, her cost per share after the stock dividend will be closest to: Question 26 options: a. $32.73 b. $30.37 c. $36.00