2. Question B asks for stock price as well

Hewlard Pocket's market value balance sheet is given. Liabilities and Assets Shareholders' Equity A. Original balance sheet Cash $ 150, 000 Debt .Other assets 950, 000 Equity 1, 100, 000 Value of firm $ 1, 100, 000 Value of firm $1, 100, 000 Shares outstanding = 100, 000 Price per share = $1, 100, 000 / 100,000 = $11 Pocket wins a lawsuit and is paid $190,000 in cash. The market value of the equity rises by that amount, and Pocket decides to pay out $2.90 per share. a. What will be Pocket's stock price if the payout comes as a cash dividend? (Do not round intermediate calculations. Round your answer to 2 decimal places.) Stock price per share b. What will be Pocket's stock price if the payout comes as a share repurchase? (Do not round intermediate calculations. Round your answer to 2 decimal places.)