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The market value balance sheet for Murray Manufacturing is shown here. The company has declared a 1 5 percent stock dividend. The stock goes ex

The market value balance sheet for Murray Manufacturing is shown here. The company has declared a 15 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 30,000 shares of stock outstanding.
Market Value Balance Sheet
Cash $ 167,000 Debt $ 347,000
Fixed assets 1,140,000 Equity 960,000
Total $ 1,307,000 Total $ 1,307,000
What will the ex-dividend price be?

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