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DaniCorp Inc., an all-equity firm, is currently valued at $520 million and has 20 million shares outstanding. The company just announced a $45 million-dollar quarterly

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DaniCorp Inc., an all-equity firm, is currently valued at $520 million and has 20 million shares outstanding. The company just announced a $45 million-dollar quarterly dividend. If there are perfect capital markets, what would be the expected stock price on the ex-dividend date? OA) $28.25 B) $26.00 OC) $23.75 D) $25.44 O E) $20.75

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