Company A has declared an $8 per share dividend. Suppose capital gains are not taxed, bu dividend are taxed at 15%. New IRS regulations require that taxes be withheld at the time the dividend is paid. Company A sells for $71.5 per share, and the stock is about to go ex-dividend. What will the ex-dividend price be?

1. 78.3
2. 82.2
3. 64.7
4. 79.5
5. 67.9