Problem 16-15 Dividend Policy Gibson Co. has a current period cash flow of $1.2 millon and pays no dividends. The present value of the s $15 million. The company is entirely financed with equity, and has 680,000 shares outstanding, Assume the dividend tax rate is zero a. What is the share price of the company's stock? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g.32.16.) Share price 2382 o b. Suppose the board of directors of the company announces its plan to pay out 50 percent of its current cash flow as cash dividends to its shareholders. Jeff Miller, who owns 1,400 shares of the stock, wants to achieve a zero payout policy on his own, by buying or selling shares. How many shares should he sell or buy? (Do not round inter decimal places, e.g,32.16.) not round intermediate calculations and round your answer to 2 Number of shares to lbuy]5072 Next K Prev of FS 8 9