Suppose B&E Press paid dividends at the end of each year according to the schedule shown here, It also reduced its share count by repurchasing $5\mathrm{.}1$ million shares at the end of each year at the ex$-$dividend stock prices shown. $($Assume perfect capital markets$)$ a$.$ What is total market value of B&E$\text{'}$s equity, and what is the total amount paid out to shareholders, at the end of each year? B&E had made the same total payouts using dividends only $($and so kept its share count constant$),$ what dividend would it have paid and what would its ex$-$dividend share price have be each year? If B&E had made the same total payouts using repurchases only $($and so paid no dividends$),$ what share count would it have had and what would its share price have been each year? $($Hint: Use the ending equity for the current year from part $($a$)$ above.$)$ d $.$ Consider a shareholder who owns $15$ shares of B&E initially, does not sell any shares, and reinvests all dividends at the ex$-$dividend share price. Would this shareholder have preferred the payout policy in $($b$)($c$),$ or the original policy? following icon $)$