On March 15, 2018, Bank of America issued 94,000 shares of 5.875% Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF for $2.35 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?

$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.

I have calculated the total dividend as follows:

94,000*25000*5.875%*6/12 months = 69,031.250.00 (This is from March 15 - Sept 15 paid dividend)

94,000*25000*5.875%*107/365 days = 40,473,116.44 (This is dividend payable accrued from Sept 15 - Dec 31)

Adding both together gives me a total dividend of 109,504,366.44. The problem says to round answer to the nearest million. I calculate this to be 110 million, however, when I enter the answer, I'm told that is wrong. What is the correct answer?

For b, I get 109,504,366 but it's not liking that answer. Can you help please?