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5 The market value balance sheet for Briggs Manufacturing is shown here. The company has declared a 15 percent stock dividend. The stock goes ex
5 The market value balance sheet for Briggs Manufacturing is shown here. The company 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 26,000 shares of stock outstanding. 10 points Cash Fixed assets Market Value Balance Sheet $ 161,000 Debt 840,000 Equity $ 262,600 738,400 Total $1,001,000 Total $1,001,000 What will the ex-dividend price be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Answer is complete but not entirely correct. Ex-dividend $ 33.48 X price
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