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| What is the impact on shareholder wealth of a share repurchase versus cash dividend of equal amount when the tax treatment of the two alternatives is the same? A)A share repurchase will sometimes lead to higher total shareholder wealth than a cash dividend of an equal amount. B)A share repurchase is equivalent to a cash dividend of an equal amount, so total shareholder wealth will be the same. C)A share repurchase will always lead to higher total shareholder wealth than a cash dividend of an equal amount. |