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50. A company has declared a dividend of $6.75 per share on its stock. Capital gains are not taxed. Suppose the IRS has issued a

50. A company has declared a dividend of $6.75 per share on its stock. Capital gains are not taxed. Suppose the IRS has issued a new regulation that requires taxes of 25 percent be withheld at the time the dividend is paid. The stock currently sells for $106.15 per share. What will the ex-dividend price be?

- 101.09

-102.78

-106.15

-104.46

-99.40

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