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The answer is C. Why? 50. NOP has 30 million shares outstanding and must pay 35% in taxes, They announce a payout of $50 million
The answer is C. Why?
50. NOP has 30 million shares outstanding and must pay 35% in taxes, They announce a payout of $50 million in cash through a special dividend. Shareholders previously assumed that NOP would retain this excess cash permanently. What is the amount that NOP's share price is expected to change upon announcement closest to? A) $0.55 B) $0.52 C) $0.58 D) $0.61Step by Step Solution
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Financial Management For Public Health And Not For Profit Organizations
Authors: Steven A. Finkler
4th International Edition
0132912813, 9780132912815
