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The stock of Payout Corp. will go ex-dividend tomorrow. The dividend will be $0.40 per share, and there are 12,000 shares of stock outstanding. The
The stock of Payout Corp. will go ex-dividend tomorrow. The dividend will be $0.40 per share, and there are 12,000 shares of stock outstanding. The market-value balance sheet for Payout is shown on the following table. Ignore taxes. Assets Cash Fixed assets Liabilities and Equity $ 150,000 Equity $1,080,000 930,000 a. What price is Payout stock selling for today? Price b. What price will it sell for tomorrow? (Round your answer to 2 decimal places.) Price
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