The market value balance sheet for Jiwani Corporation reflects cash of $400,000, fixed assets of $510,000, and equity of $910,000. There are 25,000 shares of stock outstanding with a par value of $1 per share. The company has declared a dividend of $1.20 per share. The stock goes ex dividend tomorrow. Ignore any tax effects. What will be the price of the stock tomorrow morning?

• $22.40

• $38.22

• $35.20

• $28.60

• $36.40

• Which one of the following dates is used to determine which shareholders will receive a dividend payment?

• Date of payment

• Date of record

• The stock of SolidWare has recently sold for as little as $14.25 per share and as much as $22.50 per share. The difference between these two share prices is called the:

• price variance.

• closing price.

• opening price.

• trading range.

• bid-ask spread.

• Ex-rights date

• Declaration date

• Ex-dividend date