Jersey Medical earns $$9\mathrm{.}50$ per share, sells for $$90,$ and pays a $$6$ per share dividend. The stock is split two$-$for$-$one and a $$3$ per share cash dividend is declared.

Part A What will be the new price of the stock?

Part B If the firm's total earnings do not change, what is the payout ratio before and after the stock split?