Simon and Simon, makers of cell phones, has a history of paying a dividend of $1 per share to their shareholders. Which of the following describes the likely response to the per share price of Simon and Simon, now trading at $9, with respect to the dividend?

1. a.The stock price will fall to $8 on the record date.
2. b.The stock price will rise to $10 on the record date.
3. c.The stock price will stay at $9 per share.
4. d.The stock price will fall to $8 on the ex-dividend date.
5. e.The stock price will rise to $10 on the ex-dividend date.