3. The Dawson Corporation projects the following for the year 2014:

Earnings before interest and taxes $35 million

Interest expense $5 million

Preferred stock dividends $4 million

Common stock dividend payout ratio 30%

Common shares outstanding $2 million

Effective corporate income tax rate 40%

What is the expected common stock dividend per share for Dawson Corp. for 2014?

If Dawson's Corporation's common stock is expected to trade at a price/earnings ratio of eight, the market price per share would be what?