=+LG 3 E14–3 Legal & General, an insurance company, has the following stockholders’ equity account:

Common stock (5,871,000 shares at £1 par) £5,871,000 Paid-in capital in excess of par £4,000,000 Retained earnings £550,000 Total stockholders’ equity £10,421,000 Assuming that laws and regulators in the United Kingdom define legal capital solely as the par value of common stock, how much of a per-share dividend can Legal &

General pay? If legal capital was more broadly defined, to include all paid-in capital, how much of a per-share dividend could Legal & General pay?