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Safaris Inc has equity with a total market value of $75,000. Currently, Safaris Inc. has excess cash of $5,000 as well as net income of

Safaris Inc has equity with a total market value of $75,000. Currently, Safaris Inc. has excess cash of $5,000 as well as net income of $46,000.

There are 1,200 shares of stock outstanding.

What will be the percentage change in the stock price per share if the firm pays out all of its excess cash as a cash dividend?

Please show all working and formulas used. Explain any necessary steps.

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