Air Taxi, Inc. has declared a $6.50 per-share dividend. Suppose capital gains are not taxed, but dividends are taxed at 16% and new regulations require that dividends are taxed when paid. Air Taxi stock sells for $116 per share. What will the ex-dividend price be? $6.50 Dividend per share Tax rate Price 16% $116.00 O$121.46 O$110.34 $110.54 O $108.26