Tristar Inc has 5,150 shares outstanding and the stock price is $155. The company is expected to pay a dividend of $24 per share next year and thereafter the dividend is expected to grow indefinitely by 4% a year. However, the new CEO announces that the company will henceforth distribute half the cash in the form of dividends and the remainder will be used to repurchase stock. There are no taxes.

(a) Compute the number of shares that will be repurchased in the year after the announcement.

(b) Compute the dividend per share after the repurchase