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A company has declared a dividend of $7.05 per share on its stock. Capital gains are not taxed. Suppose the IRS has issued a new

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A company has declared a dividend of $7.05 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 $113.05 per share. What will the ex-dividend price be? Multiple Choice $106.00 $113.05 $109.53 $107.41 $111.64

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