Response to the following questions:
1. Calculate the stock dividend rate equivalent to each of the following stock splits:
a. 1.5:1
b. 2:1
c. 3:1
d. 7:5
2. The dividend payout ratio for the Albany Company is 40%. Albany has 1 million shares outstanding, sales of $15 million, and a net profit margin of 5%. What is the amount of Albany's dividends per share?
Show all work and calculations.