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28. PinderLtd is currently trading at $15 per share and is planning on a dividend of $2 per share. The capital gains tax and dividend

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PinderLtd is currently trading at $15 per share and is planning on a dividend of $2 per share. The capital gains tax and dividend income tax for Pinder Ltd's shareholders are 10% and 20% respectively. Based only on the information above, what is the expected share price of Pinder Ltd on the ex-dividend date? (Show all your work.)

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