Big Industries has the following market-value balance sheet. The stock currently sells for $20 a share, and there are 1,100 shares outstanding. The firm will either pay a $1 per share dividend or repurchase $1,100 worth of stock. Ignore taxes. a. What will be the subsequent price per share if the firm pays a dividend? b. What will be the subsequent price per share if the firm repurchases stock? Note: Round your answer to the nearest dollar. c. If total earnings of the firm are $6,300 a year, find earnings per share if the firm pays a dividend. Note: Do not round intermediate calculations. Round your answer to 3 decimal places. d. If total earnings of the firm are $6,300 a year, now find earnings per share if the firm repurchases stock. Note: Do not round intermediate calculations. Round your answer to 3 decimal places. e. If total earnings of the firm are $6,300 a year, find the price-earnings ratio if the firm pays a dividend. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. f. If total earnings of the firm are $6,300 a year, find the price-earnings ratio if the firm repurchases stock. Note: Do not round intermediate calculations. Round your answer to 2 decimal places. g. Adherents of the "dividends-are-good" school sometimes point to the fact that stocks with high dividend payout ratios tend sell at above-average price-earnings multiples. Is Big Industries' P/E ratio higher if it pays a dividend