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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 | Liabilities and Equity | |||
Cash | $ | 150,000 | Equity | $1,080,000 |
Fixed assets | 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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