First Firm's market cap is $5,940. This includes cash of $542. The firm has 299 shares outstanding. First Firm uses its cash to pay a dividend. If a retired lady has 61 shares, and needs a total of $245 to cover her rent, how many shares must she sell to raise the money (include the dividends she receives as part of the money she can put towards her rent). (Assume the lady uses Robinhood and can sell fractional shares.)

Answer rating: 100% (QA)

First we need to calculate the amount of dividend the retired lady will receive from ... View the full answer