On October 1, Wildhorse Corporations stockholders equity is as follows.

Common stock, $7 par value		$539,700
Paid-in capital in excess of parcommon stock		27,000
Retained earnings		173,000
Total stockholders equity		$739,700

On October 1, Wildhorse declares and distributes a 10% stock dividend when the market price of the stock is $15 per share.

(a)

Compute the par value per share (1) before the stock dividend and (2) after the stock dividend.

Par value before the stock dividend		$
Par value after the stock dividend		$