Stevens Corporation is evaluating an extra dividend versus a share repurchase. In either case, $20,000 would be spent Current earnings are $1.50 per share, and the stock currently sells for $50 per share. There are 4,000 shares outstanding. Ignore taxes and other imperfections a. Evaluate the two alternatives in terms of the effect on the price per share of the stock and shareholder wealth per share. (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) b. What will the company's EPS and PE ratio be under the two different scenarios? (Do not round intermediate calculations and round your answers to 2 decimal places, e.g., 32.16.) a. Extra dividend Price per share Shareholder wealth a. Repurchase Price per share Shareholder wealth b. Extra dividend EPS PE ratio b. Repurchase EPS PE ratio Saved You own 1,100 shares of stock in Terayon Corporation. You will receive a $1.80 per share dividend in one year. In two years, the company will pay a liquidating dividend of $45 per share. The required return on the company's stock is 20 percent. a. Ignoring taxes, what is the current share price of your stock? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b.If you would rather have equal dividends in each of the next two years, how many shares would you sell in one year? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. What would your cash flow be for each year for the next two years? Hint: Dividends will be in the form of an annuity. (Do not round intermediate calculations.) a. Share price b. Number of shares c. Cash flow