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The company has declared a $5 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 20 percent. Currently stock sells

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The company has declared a \$5 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 20 percent. Currently stock sells for $20 per share, and the stock is about to go ex-dividend. What will the ex-dividend price be? $17 $15 $16 $18

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