The market value balance sheet for Briggs Manufacturing is shown here. The company has declared a 20 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend). There are 21,000 shares of stock outstanding. What will the ex-dividend price be?

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Market Value Balance Sheet Debt $135,000 $215,000 Cash Equity Fixed assets Total 730,000 650,000 $865,000 $865,000 Total