The company with the common equity accounts shown here has declared a 4-for-1 stock split when the market value of its stock is $37 per share. The firms 70-cent per share cash dividend on the new (postsplit) shares represents an increase of 20 percent over last years dividend on the presplit stock.

Common stock ($1 par value)	$	435,000
Capital surplus		856,000
Retained earnings		3,820,800
Total owner's equity	$	5,111,800

a.	What is the new par value per share? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., .16.)
b.	What was last year's dividend per share? (Do not round intermediate calculations and round your answer to 2