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The stock of Payout Corp. will go ex-dividend tomorrow. The dividend will be $.90 per share, and there are 21,000 shares of stock outstanding. The
| The stock of Payout Corp. will go ex-dividend tomorrow. The dividend will be $.90 per share, and there are 21,000 shares of stock outstanding. The market-value balance sheet for Payout is shown below. Ignore taxes. |
| Assets | Liabilities and Equity | |||
| Cash | $ | 230,000 | Equity | $1,260,000 |
| Fixed assets | 1,030,000 | |||
| 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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