Erin and Mia are finance researchers and are discussing the Modigliani and Miller (MM) dividend irrelevance theory. Based on your understanding of MM’s argument and the impact of the assumptions applied to the argument. Erin: Modigliani and Miller (MM) divident irrelevance theory is based on several assumptions, however, in the real world these assumptions do not apply. Mia: Issuance or flotation costs impact divident policy decisions, and companies do not care about whether to retain earnings or distribute dividends. Erin: You are right Mia. Due to the issuance costs with new equity sales, companies tend to makemore desirable. Mia: If a company pays out dividends and needs funds to invest in profitable projects, it would need to generate capital through new stock issues which isexpensive than using internal cash flow.

in 2001, dell computer became the world’s largest personal computer vendor, continuing to

gain market share and post profits in an industry struggling with slumping sales and billions of

dollars in losses. dell sells 90% of its pcs directly to the final customer, largely bypassing the

reseller channel that accounts for most of the world’s pc sales. this direct customer relationship

is the key to dell’s business model, and provides distinct advantages over the indirect sales

model. dell’s direct relationship with the customer allows it to tailor its offerings to customer

needs, offer add-on products and services, and use the internet to offer a variety of customer

services. in addition, dell’s pcs are built to customers’ specifications upon receipt of an order,

giving dell additional advantages over indirect pc vendors who must try to forecast demand and

ship products based on those forecasts. dell’s direct sales and build-to-order model has achieved

superior performance in the pc industry in terms of inventory turnover, reduced overhead, cash

conversion, and return on investment (kraemer, et al., 2000).

explanation:

his average speed in km per hour is ≈ 55.4 km/h and about 15.4 m/s.

answer; bootstrapping is your answer;

the first successful, urban blues recording, selling more than 75,000 copies, was made in year 1920.

mamie smith recorded the first commercially successful example of the urban blues,   with the recording of “crazy blues”."crazy blues" was recorded on august 10, 1920, in new york city. within a month of the release of “crazy blues” it had sold 75,000 copies.