1.The board of directors for the Blank Corporation declares a $1 per share cash dividend on April 1, Year One, to be paid to owners of record on April 17, Year One, with the checks being distributed on April 29, Year One. Prior to April 1, the company had issued 100,000 shares of common stock but held 10,000 treasury shares. Another 10,000 shares were repurchased on April 25, Year One. On what date should the company decrease its working capital as a result of this dividend?

April 1, Year One

April 17, Year One

April 29, Year One

April 25, Year One