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A firm just announced a 50% stock dividend. There are currently 80,000 shares outstanding and the total market value of equity is $2.4 million. What

A firm just announced a 50% stock dividend. There are currently 80,000 shares outstanding and the total market value of equity is $2.4 million. What is the expected drop in the stock price on the ex-dividend date? a. $20.00 b. $16.00 c. $8.00 d. $10.00 e. $15.00

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