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29. The market value balance sheet for Inbox Manufacturing is shown here. Inbox has declared a 15 percent stock dividend. The stock goes ex-dividend tomorrow
29. The market value balance sheet for Inbox Manufacturing is shown here. Inbox has declared a 15 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 13,000 shares outstanding. What is the ex-dividend stock price? Market Value Balance Sheet Cash $226,000 Debt $180,000 Fixed assets 330,000 Equity 376,000 Total $556,000 Total $556,000 A. $23.51 B. $25.15 C. $25.51 D. $26.86 E. $28.92
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