The following information is relevant for question 14 and 15: 31-12-16 31-12-15 Preferred stock, 5%, $120 par, cumulative, 6,000 shares Common stock, $2 par, 3,000,000 shares authorized Additional paid-in capital-preferred Additional paid-in capital common Total paid-in capital Retained earnings Total paid-in capital & retained earning Treasury stock, 18,000 (2016) and 11,000 (2015) shares of common stock 720,000 1,200,000 100,000 10,750,000 10,850,000 18,600,000 29,450,000 (200,000) 720,000 1,000,000 100,000 9,500,000 9,600,000 13,500,000 23,100,000 (130,000) The company didn't sell any treasury shares during the last two years. 14. The average purchase price of treasury stock during 2016 is: a. $7 b. $10 c. $28.5 d. $70 e. Based on data given, there is no way to know. 15. Assuming the company had a net income of $7,425,000 on 2016 and the last dividends payment was 500,000 on 31 December 2014. What is the dividend amount that an investor holding 3,000 common shares will receive? a. $4,500 b. $9,250 c. $11,613 d. $4,725 e. $11,265