The company with the common equity accounts shown here has declared a five-for-one stock split when the market value of its stock is $74 per share. The firm's 55 cent per share cash dividend on the new (postsplit) shares represents an increase of 10 percent over last year's dividend on the presplit stock.

Common stock ($1 par value) $305,000

Capital surplus 2,450,000

Retained earnings 6,473,000

Total owner's equity $9,228,000

What is the new par value per share?(Round your answer to 2 decimal places, e.g., 32.16.)

What was last year's dividend per share?