Study Exhibit 14-9 on page 882. Suppose the Bank of Nova Scotia repurchased its preferred shares. What would be the amount of the reduction of the company's total shareholders' equity if the cost to repurchase the preferred shares was

(a) $5,000 million?

(b) $4,384 million?

(c) $4,000 million?

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EXHIBIT 14-9 Formats for Reporting Shareholders' Equity*** Textbook Format Real-World Format Shareholders' Equity ($ amounts in millions) Shareholders' Equity ($ amounts in millions) Contributed capital Preferred shares, unlimited number authorized e 175,345,767 issued, outstanding Common shares, unlimited number authorized a Capital stock $ 4,384 Preferred shares (Note 15)* $ 4,384 (b Common shares (Note 16)** 8,432 1,088,972,173 issued, outstanding Retained earnings Accumulated other comprehensive income (loss) (Note 17) Total shareholders' equity 8,432 Retained earnings Accumulated other comprehensive income (loss) (Note 17) 24,662 24,662 (4,718) $32,760 (4,718) $32,760 *Note 15: Preferred Shares (adapted) Authorized An unlimited number of Preferred Shares without nominal or par value. Issued and fully paid Preferred shares 175,345,767 shares **Note 16: Common Shares (adapted) Authorized An unlimited number of Common Shares without nominal or par value. Issued and fully paid Common shares 1,088,972,173