Younger Company has outstanding both ordinary shares and nonparticipating, non-cumulative preference shares. The liquidation value of the preference shares is equal to its par value. The book value per share of the ordinary shares is unaffected by

Select one:

a. the payment of a previously declared cash dividend on the ordinary shares.

b. the declaration of a share dividend on preference payable in preference shares when the market price of the preference is equal to its par value.

c. a 2-for-1 split of the ordinary shares.

d. the declaration of a share dividend on ordinary shares payable in ordinary shares when the market price of the ordinary shares is equal to its par value.