Assume that you own 90 shares of common stock of a company, that you have been receiving cash dividends of $7 per share per year, and that the company has a 3-for-2 stock split.
1. What new cash dividend per share amount will result in the same total dividend income as you received before the stock split? (Do not round intermediate calculations. Round your answer to 2 decimal places.)
New cash dividend=
2. What stock dividend percentage could have accomplished the same end result as the 3-for-2 stock split?
Stock dividend=