Callaghan Ltd. buys 2,900 of the 100,000 shares of Flightway Inc., paying $36.00 per share. Suppose Flightway distributes a 10 percent stock dividend. Later the same year, Callaghan Ltd. sells the Flightway shares for $29.00 per share. Disregard commissions on the purchase and sale. 1. Compute Callaghan Ltd.'s new cost per share after receiving the stock dividend. 2. Compute Callaghan Ltd.'s gain or loss on the sale of this long-term investment. 1. Compute Callaghan Ltd.'s new cost per share after receiving the stock dividend. Let's start with calculating the cost of investment. Cost of the investment = Now we can compute the new cost per share after receiving the stock dividend. New number of shares held = New cost per share = (Enter new cost per share rounded to the nearest cent.) 2. Compute Callaghan Ltd.'s gain or loss on the sale of this long-term investment. on the sale of the long-term investment is (Enter losses with a minus sign or parentheses.) Loss Gain