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The market value balance sheet for Briggs Manufacturing is shown here. The company has declared a 10 percent stock dividend. The stock goes ex dividend
| The market value balance sheet for Briggs Manufacturing is shown here. The company has declared a 10 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 25,000 shares of stock outstanding. |
| Market Value Balance Sheet | |||||||
| Cash | $ | 136,000 | Debt | $ | 346,000 | ||
| Fixed assets | 810,000 | Equity | 600,000 | ||||
| Total | $ | 946,000 | Total | $ | 946,000 | ||
| What will the ex-dividend price be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
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