Question
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 20,000 shares of stock outstanding. |
| Market Value Balance Sheet | |||||||
| Cash | $ | 141,000 | Debt | $ | 291,000 | ||
| Fixed assets | 750,000 | Equity | 600,000 | ||||
| Total | $ | 891,000 | Total | $ | 891,000 | ||
| 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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International Financial Management
Authors: Jeff Madura
11th Edition
0538482966, 9780538482967
