Here are key financial data for House of Herring, Incorporated: Earnings per share for 2025 Number of shares outstanding Target payout ratio Planned dividend per share Stock price, year-end 2025 House of Herring plans to pay the entire dividend early in January 2026. All corporate and personal taxes were repealed in 2026. a. Other things equal, what will be House of Herring's stock price after the planned dividend payout? Note: Round your answer to 2 decimal places. b-1. Suppose the company cancels the dividend and announces that it will use the money saved to repurchase shares. Will the stock price change due to the announcement? b-2. Assume that investors learn nothing about the company's prospects from the announcement. How many shares will the company need to repurchase? Note: Do not round intermediate calculations. Enter your answer in whole numbers not in millions. Round your answer to the nearest whole number. $5.75 40.5 million 40% $2.30 $ 135 Suppose that, instead of canceling the dividend, the compa