Legal & General, an insurance company, has the following stockholders’ equity account:

Assuming that laws and regulators in the United Kingdom define legal capital solely as the par value of common stock, how much of a per-share dividend can Legal & General pay? If legal capital was more broadly defined, to include all paid-in capital, how much of a per-share dividend could Legal & General pay?

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Common stock (5,871,000 shares at 1 par) Paid-in capital in excess of par Retained earnings Total stockholders' equity 5,871,000 4,000,000 550,000 10,421,000