A firm has a market value equal to its book value. Currently, the firm has excess cash of $500 and other assets of $9,500. Equity is worth $10,000. The firm has 250 shares of stock outstanding and net income of $1,400. Current stock price is $40. What will the stock price per share be if the firm pays out its excess cash as a cash dividend?

Group of answer choices

$40

$36

$42

$38