QUESTION 3 Schaeffer Shippers announced on May 1 that it will pay a dividend of $1.20 per share on June 15 to all holders of record as of May 31st. The firm's stock price closed today at $42 a share. Assume all investors are in the 22 percent tax bracket. If tomorrow is the ex-dividend date, what would you expect the opening price to be tomorrow morning assuming all else is held constant? $41.06 $43.20 $42.94 $41.66