The balance sheet for Contrail Air, Inc. is presented below, in market value terms. The company has 12,000 shares outstanding and declares a dividend of $1.20 per share. Ignoring any tax effects, what will the stock sell for ex-dividend? Shares outstanding 12,000 Dividend per share $1.20 . Market Value Balance Sheet Cash $55,000 Equity $465,000 Fixed assets $410,000 Total $465,000 Total $465,000 $39.95 $46.50 $32.29 $37.55