. Cass purchased 100 shares of Polar Tek stock on Monday, September 3.

QUESTION

1. Cass purchased 100 shares of Polar Tek stock on Monday, September 3. Polar Tek paid its quarterly dividend of $.80 a share on Friday, September 28. The record date was Wednesday, September 5. How much did Cass receive as a dividend payment on September 28?2. Lineman Tools needs $360 million to finance a new manufacturing facility. The offer price is $45 a share and the underwriters spread is 7.5%. Direct costs are estimated at a total of $640,000. How many shares of stock need to be sold to finance the new facility?3. Easter Express currently has a common stock account balance of $630,000 and a retained earnings account balance of $984,000. The stock has a par value of $1 per share and a market value of $22 per share. Eastern express has declared a 7% stock dividend. WHat will the market price of the stock be after the stock dividend?

ANSWER

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