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15 Bowzer Co. has just received $5 million from the sale of one of its divisions. The company has 490,000 shares outstanding that sell for

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Bowzer Co. has just received $5 million from the sale of one of its divisions. The company has 490,000 shares outstanding that sell for $87.35 per share. If the company issues the entire proceeds from the sale as a special dividend, what will the ex-dividend stock price be? Assume that there are personal taxes on dividends at 20% and personal capital gains taxes at 15%. Multiple Choice none of the above. O O 80.10 79.13 O 77.14 O d 77.75

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