Question: 1. The board of directors of First Class Airlines has declared a dividend of $4,300,000. The company has 400,000 shares of preferred stock that pay $0.70 per share and 2,750,000 shares of common stock. After first finding the amount of dividends due the preferred shareholders, calculate the dividend per share of common stock.
2. Chloe invested a lump sum of $24,000 in a mutual fund with an offer price of $8.05. How many shares did she purchase? (Round to the nearest thousandth).
3. A mutual fund has total assets of $60,500,005 and liabilities of $7,987,654. If there are 10,123,456 shares outstanding, what is the net asset value of the fund?