3.Below is the balance sheet for Bersatu Corporation. There are 11,000 shares of stock outstanding. The company has declared a dividend of RM1.60 per share. The stock goes ex dividend tomorrow. Ignore any tax effects.

Market Value Balance Sheet

Cash RM 42,500

Fixed Aset RM280,000 Equity RM322,500

Total RM 322,500 Total RM322,500

Required:

(a) What is price of the stock selling for today.

(2.5 marks)

(b) Calculate the stock selling tomorrow.

(2.5 marks)