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The market value balance sheet for Briggs Manufacturing is shown here. The company has declared a 30 percent stock dividend. The stock goes ex dividend
The market value balance sheet for Briggs Manufacturing is shown here. The company has declared a 30 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend). There are 27,000 shares of stock outstanding. Cash Fixed assets Market Value Balance Sheet $ 142,000 Debt 1,050,000 Equity $ 314,500 877,500 Total $ 1,192,000 Total $1,192,000 What will the ex-dividend price be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Ex-dividend price
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