Transvaal has a total market value of R500 000 is currently evaluating three capital structures (30%, 40% and 50%-debt) without altering the total amount of financing required. Transvaals ordinary shares have a book value of R60 per share and the company has a dividend retention ratio of 70%. Earnings available for ordinary shareholders are estimated at R35 000, R28 000 and R20 000 for the 30%, 40% and 50%-debt capital structures respectively. The corporate charter of the company authorizes the issue of 5 000 ordinary shares internally and intends to use the same corporate charter for the next three years. Calculate the number of ordinary shares issued to existing ordinary shareholders for each of the capital structures under evaluation. Calculate Transvaal's earnings per share (EPS) for each of the capital structures under evaluation.

Calculate the dividend per share for each of the capital structures under evaluation.