On January 1, 2000, Oldroyd Corporation had 130,000 shares of common stock issued and outstanding. During 2000, the following transactions occurred (in chronological order).

a. 10.000 new shares of common stock were issued.

b. 2,000 shares of stock were reacquired for use in the company's employee stock option plan.

c. At the end of the option period, 1,200 shares had been purchased by corporate officials.

Given this information, compute the following:

1. After the foregoing three transactions have occurred, what amount of dividends must Oldroyd Corporation declare in order to pay 50 cents per share? to pay $\$ 1$ per share?

2. What is the dividend per share if $\$ 236,640$ is paid?

3. If all 2,000 treasury shares had been purchased by corporate officials through the stock option plan, what would the dividends per share have been, again assuming $\$ 236,640$ in dividends were paid? (Round to the nearest cent.)