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C. $46.00 D. $69.00 E. $92.00 18. A firm finds that it temporarily has $1 billion of excess cash. Management decides to distribute this cash to shareholders. The company has 1 billion shares outstanding. Individual shareholders hold 2% of the company's stock, pension funds hold another 33%, and the remaining 65% are held by corporations. Which of the following payout method will be welcomed by most shareholders? a. Payout the $1 per share special cash dividend* b. Repurchase $1 billion worth of shares c. Pay $1 billion stock dividend d. Do a 2-for-1 stock split Use the following information for the next two questions.) Mark purchased 8,000 shares of Apple stock two years ago at the price of $150 per share. Apple stock is trading at $215 today and ill pay a dividend of $3/share with tomorrow being the ex-date. Mark faces an ordinary income ax rate of 35% and a capital gain/ qualified dividend tax rate of 18.8%. 19. How much tax will Jack owe to the U.S. federal government when he receives the dividend? A. $3,500 B. $4,512** C. $6,357 D. $8.400