The stockholders' equity section of the balance sheet for Gator Company at December 31, 2014, is as follows Stockholders' Equity Paid-in capital Preferred stock, ? par value, 6% cumulative 250,000 shares authorized, 55,000 hares issued $550,000 and outstanding Common stock, $20 stated value, 300,000 shares 1,100,000 45,000 165,000 authorized, 55,000 shares issued and ? outstanding Paid-in capital in excess of par-Preferred Paid-in capital in excess of stated value-Common Total paid-in capital Retained earnings Treasury stock, 8,000 shares 1,860,000 400,000 (40,000) Total stockholders' equity $2,220,000 Note: The market value per share of the common stock is $40, and the market value per share of the preferred stock is $27 Required a. What is the par value per share of the preferred stock? Par value per share b. What is the dividend per share on the preferred stock? (Round your answer to 2 decimal places.) ivid per share