Identifying and Analyzing Financial Statement Effects of Cash Dividends

On March Bank of America issued shares of FixedtoFloating Rate NonCumulative Preferred Stock, Series FF for $ billion. Dividends are payable semiannually on or about March and September

a Assume the stock was issued at face value. What is the face value of each Series FF share?

$Answer

b What will be the total dividend for the year ended December assuming that the number of shares remains unchanged?

Enter answer in millions. Round answer to the nearest million.