The market value balance sheet for Outbox Manufacturing is shown here. Outbox has declared a 25 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. What will the ex-dividend price be?

MARKET VALUE BALANCE SHEET

Cash $145,000 Debt $127,000

Fixed assets $598,000 Equity $616,000

Total $743,000 Total $743,000