Problem 15-14 Parnell Bolts Inc. has 20 million common shares outstanding and net income of $30 million. The stock sells at a P/E of 15. The company has $8 million available to pay the next quarterly dividend, but is considering a repurchase instead. a. If Parnell pays the cash dividend, what will be its dividend yield on an annualized basis? Round the answer to two decimal places. Do not round intermediate calculations. b. How many shares will be redeemed if the repurchase option is chosen and the stock is acquired at market value? Round the answer to the nearest whole. Enter your number of shares in whole numbers. For example, an answer of 1.2 million should be entered as 1,200,000, not 1.2. shares c. What will be the EPS after the repurchase if earnings remain unchanged? Round the answer to four decimal places. Do not round your intermediate calculations. per share d. What will be the new stock price if the P/E remains unchanged? Round the answer to two decimal places. Do not round your intermediate calculations. per share