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The equals the annual dividend per share stated as a percentage of the annual earnings per share. a. dividend per share b. dividend payout ratio c. dividend yield Ignore commissions, taxes, and other imperfections. If a firm substitutes, a stock repurchase for a cash dividend, the primary difference will be an increase in the: a. earnings per share b. total assets c. total value received by each investor The common stock of Plank Communications has a beta of 1.37, the risk-free rate is 3.4 percent, and the market risk premium is 8.2 percent. The yield to maturity on the firm's bonds is 7.6 percent and the debt-equity ratio is 0.45. What is the WACC if the tax rate is 23 percent and all interest is tax-deductible? Ca. 14.07% b. 11.91% c. 12.60%If the risk of Zander Systems' new investment project is different from Zander Systems' risk profile then: a. Zander Systems should adjust the discount rate for the new project based on this project risk. b. Zander Systems should adjust the discount rate for the new project based on their risk profile. .c. Zander Systems should exercise risk aversion and use the market rate. Which one of the following is cited as an argument favouring a high dividend payout? a. high personal tax rates relative to corporate rates b. agency costs related to excess cash reserves c. desire to maintain constant dividends over time