The total market value of Quinlan Carpet's assets is $1.5Million. The total market value of all of their debt is $450,000. The capital structure of the company is made up of only debt and common equity. There are 40,000 common shares outstanding. The company has declared a 25% stock dividend, with the ex-dividend date being tomorrow. Answer the following:

All else equal, what do you expect the ex-dividend price to be? Price = $

All else equal, what will be the total ex-dividend market value of the company's equity?

Market Value of Equity (ex-dividend) = $