A firm has a stock account of 3000000 at 025 par reported, Financial Management

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A firm has a stock account of 3000000 at 025 par reported

A firm has a stock account of $3,000,000 (at $0.25 par) reported on its balance sheet. Yesterday the firm's stock had a closing price of $22.25. Today, the firm paid a $0.35 dividend and the closing price is $22.00.

1. Determine the firm's market capitalization at the end of the day yesterday. $ ___ million

2. Determine the firm's market capitalization at the end of the day today. $ ___ million

3. Did the firm's shares lose value or gain value between yesterday and today? Calculate the amount of the shareholders loss or gain. Use negative sign to indicate a loss. Round your answer to one decimal place. $ ___ million

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