Shown below is information relating to the stockholders equity of Novake Corporation at December 31, 2010:

8% cumulative preferred stock, $100 par,

100,000 shares authorized, 7,000 shares issued............................................. $ 700,000

Common stock, $3 par, 1,000,000 shares authorized,

500,000 shares issued and outstanding......................................................... 1,500,000

Additional paid-in capital: preferred stock....................................................... 400,000

Additional paid-in capital: common stock........................................................ 500,000

Retained earnings.......................................................................................... 800,000

From the above information, compute the following:

1 The total amount of legal capital: $__________

2 The total amount of paid-in capital: $__________

3 The average issue price per share of preferred stock: $_____ per share

4 The book value per share of common stock (assume current-year preferred dividends have been paid) $_____ per share

5 The balance in Retained Earnings at the beginning of the year was $650,000, and there were no dividends in arrears. Net income for 2010 was $475,000. What was the amount of dividend declared on each share of common stock during 2010? $_____ per share