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Calculate the Market price of a share on which fully franked dividend was declared by the company amounting to AUD $1 for the each of

Calculate the Market price of a share on which fully franked dividend was declared by the company
amounting to AUD $1 for the each of the underlying shares in the books of the company.
The corporate Tax on the dividend franked is 27.5%
Assume that credits of franking dividend are valued fully
Share price $ ?

AUSTRALIA TAXATION

NEED 100% CORRECT ANSWER ONLY

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