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1) Company with common equity accounts given below has declared the four-for-one stock split when market value of its stock is= $43 per share. Firm’s 75-cent per share cash dividend on new (postsplit) shares represents the increase of 10% over last year’s dividend on presplit stock.

Common stock ($1 par value) $ 385,000
Capital surplus 846,000
Retained earnings 3,720,800
Total owner's equity $ 4,951,800

What is the new par value per share? What was last year's dividend per share?

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