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Gatto, Incorporated, has declared a dividend of $ 6 . 0 0 per share. Suppose capital gains are not taxed, but dividends are taxed at

Gatto, Incorporated, has declared a dividend of $6.00 per share. Suppose capital gains are not taxed, but dividends are taxed at 25 percent. New IRS regulations require that taxes be witheld at the time the dividend is pald. The company's stock sells for $111 per share, and the stock is about to go ex-dividend. What do you think the ex-dividend price will be?
Note: Do not round Intermedlate calculations and round your answer to 2 decimal places, e.g.,32.16.
Ex-dividend price
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