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7 A company has declared a dividend of $7.45 per share on its stock. Capital gains are not taxed. Suppose the IRS has issued a

7 A company has declared a dividend of $7.45 per share on its stock. Capital gains are not taxed. Suppose the IRS has issued a new regulation that requires taxes of 20 percent be withheld at the time the dividend is paid. The stock currently sells for $122.25 per share. What will the ex- dividend price be? Multiple Choice $120.76 $116.29 $122.25 $114.80 O O $118.53

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