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The common stock of ABC Company closed at $85.75 per share today. Tomorrow morning, the stock goes ex-dividend. The dividend that is being paid per
The common stock of ABC Company closed at $85.75 per share today. Tomorrow morning, the stock goes ex-dividend. The dividend that is being paid per quarter is $4.36 per share. Assume a tax rate on dividends of 21%. All else equal, what should the opening price be tomorrow morning? Enter your answer rounded off to two decimal points.
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