The total market value of Quinlan Carpet's assets is $4.5Million. The total market value of all of their debt is $950,000. The capital structure of the company is made up of only debt and common equity. There are 75,000 common shares outstanding. The company has declared a 20% stock dividend, with the ex-dividend date being tomorrow. Answer the following:

1. All else equal, what do you expect the ex-dividend price to be? Price = $ Blank 1. Fill in the blank, read surrounding text. (Round your answer to 2 decimal places. Do NOT use commas (eg. 43.21)

2. All else equal, what will be the total ex-dividend market value of the company's equity? Market Value of Equity (ex-dividend) =