Question
The market value balance sheet for Oracle Manufacturing is shown here. The companyhas declared a stock dividend of 20 percent. The stock goes ex-dividend tomorrow
The market value balance sheet for Oracle Manufacturing is shown here. The companyhas declared a stock dividend of 20 percent. The stock goes ex-dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend).
Market Value Balance SheetCash$93,000Debt$152,000Fixed assets770,000Equity711,000Total$863,000Total$863,000
There are 28,000 shares of stock outstanding. What is the current share price?(Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
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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