On March $15,2018,$ Bank of America issued $94,000$ shares of $5\mathrm{.}875\%$ Fixed$-$to$-$Floating Rate Non$-$Cumulative Preferred Stock, Series FF for $$2\mathrm{.}35$ billion. Dividends are payable semiannually on or about March $15$ and September $15.$

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

$Answer

$25,000$

b$.$ What will be the total dividend for the year ended December $31,2018,$ assuming that the number of shares remains unchanged?

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

$Answer

$71$

million