Explain how repurchases can (1) help stockholders hold down taxes and (2) help firms change their capital structures. What is treasury stock?

Capital structures.

Explain how repurchases can (1) help stockholders hold down taxes
and (2) help firms change their capital structures.
What is treasury stock?
What are the three procedures a firm can use to repurchase its stock?
What are some advantages and disadvantages of stock repurchases?
How can stock repurchases help a company operate in accordance
with the residual dividend model?