The market value balance sheet for Murray 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 28,000 shares of stock outstanding.

Cash	$ 116,000	Debt	$ 237,600
Fixed assets	900,000	Equity	778,400
Total	$ 1,016,000	Total	$ 1,016,000

What will the ex-dividend price be?