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Market value balance sheet (in $ million): Assets Debt and equity Current assets 51 Debt 45 Fixed assets 135 Equity Total assets 186 Debt &

Market value balance sheet (in $ million):

Assets		Debt and equity
Current assets	51	Debt	45
Fixed assets	135	Equity
Total assets	186	Debt & equity

The current stock price is $15.38. The company now declares a stock dividend of 60%.

a. How many new shares will be distributed (in million)?

b. What will be the ex-dividend price?

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