1.) Cullumber Political Consultants management has decided to discontinue all of the firm's business operations. The firm has total debt of $5.80 million, and the liquidation value of its assets is $10.00 million. If the book value of the firm's equity is $5.00 million, then what will be the amount of the liquidating dividend when the firm liquidates all of its assets? (Round answer to 2 decimal places, e.g. 15.25.)

2.)Pharoah, Inc., stock is trading for $12.50 per share on the day before the ex-dividend date. If the dividend is $0.15 and there are no taxes, what should the price of the shares be on the ex-dividend date? (Round answer to 2 decimal places, e.g. 15.25.)

3.)Suppose that you live in a country where it takes 10 days to settle a stock purchase. By how many days will the ex-dividend date precede the record date?