A firm will pay dividends of $100 per share in one year, $250 per share in two years, and a liquidating dividend of $400 per share in three years. The discount rate is 10%. An investor who owns one share of the firm would prefer to receive equal annual dividends at the end of each of the next three years. Find the dividend that the investor wants to receive at the end of the second year. A firm's balance shows a capital surplus of $195 and retained earnings of $455. Its share price is $13 and the market value of its equity is $845. The firm is about to do a stock repurchase of $221. There are no taxes. Find the number of shares outstanding after the repurchase