4. Bhumika Das Private Equity Inc. has declared a $20.75 per-share dividend. Suppose capital gains are not taxed, but dividends are taxed at 12 percent. New IRS regulations require that taxes be withheld when dividend is paid. The company's stock sells for $105 per share and is about to go ex-dividend. There are 450,000 shares of stock outstanding. A) Calculate the after-tax dividend amount of the firm. B) Calculate the ex-dividend stock price of the firm. 5. The Owners' Equity accounts for Tamer & Klara Financial Institution are shown below: Stockholders' Equity Account Common Stock ($3 par value) Capital Surplus Retained Earnings Total Owners' Equity $25,000 135,000 487,600 $647,600 A) If the company's stock currently sells for $43 per share and a 10 percent stock dividend is declared, how many new shares will be distributed? Indicate how the equity account would change. B) If the company declared a 25 percent stock dividend, how would the accounts change?