A Firm Has a Market Value Equal to Its Book

A firm has a market value equal to its book value.Currently,the firm has excess cash of $400 and other assets of $7,600.Equity is worth $8,000.The firm has 300 shares of stock outstanding and net income of $900.The firm has decided to pay out all of its excess cash as a cash dividend.What will the earnings per share be after the dividend is paid?

A) $.25
B) $.45
C) $3.00
D) $4.80
E) $5.50