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Can I please get some help on solving for the first ex-dividend price? Only need answer, not excel formula. Thanks in advance. RFC Corp. has

Can I please get some help on solving for the first ex-dividend price? Only need answer, not excel formula. Thanks in advance.

RFC Corp. has announced a $1.53 dividend. If RFC's price last price cum-dividend is $14.34, what should its first ex-dividend price be (assuming perfect capital markets)? RFC's first ex-dividend price should be $ (Round to two decimal places.)

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