The net income of Novis Corp. is $96,000. The company has 25,000 outstanding shares and a 100 percent payout policy. The expected value of the firm one year from now is $1,812,520. The appropriate discount rate for Novis is 13 percent, and the dividend tax rate is zero. Assume the MM assumptions hold. a. What is the current value of the firm assuming the current dividend has not yet been paid? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Current value of the firm $ b. What is the ex-dividend price of Novis's stock if the board follows its current policy? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Ex-dividend price $ c. At the dividend declaration meeting, several board members claimed that the dividend is too meagre and is probably depressing Novis's price. They proposed that Novis sell enough new shares to finance a $5.20 dividend. Assume Novis will remain entirely financed with equity. c-1. Calculate the current value of the firm. (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) Current value of the firm c-2. If the proposal is adopted, at what price will the new shares sell? How many will be sold? (Do not round intermediate calculations. Round the final answers to 2 decimal places.) $ $ Current share price Number of shares