The market value balance sheet for Bobaflex Manufacturing is shown here. The company has declared a 15 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend).

Answer the following questions.

1. There are 22,000 shares of stock outstanding. What is the current share price? (2.5 marks)
2. What will the ex-dividend price be? (2.5 marks)