Tangshan Mining Company has released the following information. 
(a)What are Tangshan Mining's current earnings per share?
(b)What is Tangshan Mining's current P/E ratio?
(c)Tangshan Mining wants to use half of its earnings either to pay shareholders dividends or to repurchase shares for inclusion in the firm's employee stock ownership plan.If the firm pays a cash dividend,what will be the dividend per share received by existing shareholders?
(d)Instead of paying the cash dividend,what if the firm uses half of its earnings to pay $55 per share to repurchase the shares,what will be the firm's new EPS? What should be the firm's new share price?
(e)Compare the impact of a stock dividend and stock repurchase on shareholder wealth.
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