Question 4 (20 marks) (a) The Green Fiddle has declared a $4 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 12 percent. New IRS regulations require that taxes be withheld at the time the dividend is paid. Green Fiddle stock sells for $75.50 per share, and the stock is about to go ex-dividend. What will the ex-dividend price be? (5 marks) (b) The statement of financial position for Sheng Corp. is shown here in market value terms. There are 8,000 shares of stock outstanding. The company has announced a share repurchase of $13,600 worth of stock. How many shares will be outstanding after the repurchase? What will the price per share be after the repurchase? ( 15 marks)