Juno Animation Inc. announced on June 1st that it would pay a dividend of $1.20 per share on July 15^th to all holders of record as of June 30^th. The dividend tax rate for all investors is 20 percent, and no capital gain tax applies. The firm's stock price is $42 a share today. Tomorrow is the ex-dividend date. Holding all else constant, what would you expect the stock price to be tomorrow?

a. 41.04

b. 40.80

c. 42.94

d. 43.20