Stock price around dividend

Part A :

Jenny plans to sell 100 shares of ExxonMobil stock. ExxonMobil has just declared a $0.85 cash dividend per share payable in forty days to registered owners twenty days from now. If on theex-date the price of ExxonMobil is $61.26 pershare, show the total proceeds and the source of the proceeds to Jenny if she sells before the close on theex-date or waits until the morning after theex-date. Assume a world of no taxes.

Part B :

AtlantisManufacturing, Inc. issues the following pressrelease: "Atlantis Manufacturing will pay a quarterly dividend of $1.20 per share to record holders as of the 10th of this month on the 20th of thismonth." The company made this announcement on July3,2014. There is atwo-day settlement for stock transactions. Determine what the stock price of Atlantis Manufacturing will be after the cash dividend announcement in a world of no taxes. Assume the current price is $53.15 per share and the price does not change between July3,2014 and July20,2014 other than for the cash dividend. On what day does the pricechange? What is the cost to a buyer after theannouncement? What is the sales revenue to a seller after theannouncement?