The balance sheet caption for common stock is:

Common stock, no par value, 7,000,000 shares authorized, 4,600,000 shares issues 4,450,000 shares outstanding $552,000,000.

(a.) Calculate the average price at which the shares were issued.

(b.) If these shares had been assigned a stated value of $10 each, show how the above caption would be different.

(c.) Calculate the total amount of cash that would be paid to stockholders if a cash dividend of $1.50 per share were declared.