The stock of Monarch Co. is going ex-dividend today. The company just paid $1.75 dividend per share. There are 40,000 shares of stock outstanding. The market value balance sheet for Monarch Co. is shown below. What is the stock price today (ex-dividend)? Ignore taxes.

Assets		Liabilities and Equity
Current Assets	$500,000	Liabilities	$700,000
Non-current Assets	$1,500,000	Shareholders Equity	$1,300,000

Multiple Choice

a. $32.50.

b. Not determinable.

c. $34.25.

d. $30.75.