Problem $19-1$ Dividends and Taxes

Gatto, Incorporated, has declared a $$6\mathrm{.}80$ per share dividend. Suppose capital gains are not taxed, but dividends are taxed at $15$ percent. New IRS regulations require that taxes be withheld at the time the dividend is paid. The company's stock sells for $$94\mathrm{.}70$ per share, and the stock is about to go ex$-$dividend. What do you think the ex$-$dividend price will be$?($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Ex$-$dividend price