KMS Corporation has assets with a market value of $552 million, $39 million of which are cash. It has debt of $167 million, and 14 million shares outstanding. Assume perfect capital markets.

a. What is its current stockprice?

KMSCorporation's current stock price is $................per share. (Round to the nearestcent.)

b. If KMS distributes $39 million as adividend, what will its share price be after the dividend ispaid?

If KMS distributes $39 million as adividend, KMSCorporation's share price after the dividend is paid will be $................per share. (Round to the nearestcent.)

c. Ifinstead, KMS distributes $39 million as a sharerepurchase, what will its share price be once the shares arerepurchased?

Ifinstead, KMS distributes $39 million as a sharerepurchase, KMSCorporation's share price after the shares are repurchased will be $..................per share. (Round to the nearestcent.)

d. What will its new marketdebt-equity ratio be after eithertransaction?

After eithertransaction, thedebt-to-equity ratio is ...................... (Round to two decimalplaces.)