[Solved] RFC Corp. has announced a $1.62 dividend.

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RFC Corp. has announced a $1.62 dividend. If RFC's last price cum-dividend is $15.23, what should its first ex-dividend price be (assuming perfect capital markets)?

RFC Corp. has announced a $1.62 dividend. If RFC's last price cum-dividend is $15.23, what should its first ex-dividend price be (assuming perfect capital markets)? RFC's first ex-dividend price should be \$ (Round to two decimal places.)

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