Jensen's Has a Market Value Equal to Its Book Value,excess

Multiple Choice

Jensen's has a market value equal to its book value,excess cash of $500,other assets of $9,500,and equity worth $10,000.The firm has 250 shares of stock outstanding and net income of $1,400.What will be the stock price per share if the firm pays out its excess cash as a cash dividend?

A) $36
B) $38
C) $40
D) $42
E) $44