Stephanie's Cafes, Inc., has declared a dividend of

$1.44

per share for shareholders of record on Tuesday, May 2. The firm has

$260,000

shares outstanding and will pay the dividend on May 24. How much cash will be needed to pay the dividend? When will the stock begin selling ex dividend ?

Part A).The amount of cash needed to pay the dividend is

$___________(Round to the nearest dollar.)

Part B.) When will the stock begin selling ex dividend? (Select the best answer below.)

A.

Tuesday, May 2

B.

Monday, May 1

C.

Sunday, April 30

D.

Friday, April 28