1. Corporation A has announced a $2.3 dividend. If the firm's last price while trading is $41, what should its first ex-dividend price be (assuming perfect capital markets)?

NOTE: Submit your answers with 4 decimals after the dot

2. Firm A has assets of $638,108,592, $50,000,000 of which are cash. It has debt of $141,989,692. If KMS repurchases $15,245,987 of its stock After the repurchase, what will its new leverage ratio be ?