Question
The stock of Red's Hardware closed at $59.35 per share today. Tomorrow morning, the stock goes ex-dividend, paying a dividend of $2.15 per share. The
The stock of Red's Hardware closed at $59.35 per share today. Tomorrow morning, the stock goes ex-dividend, paying a dividend of $2.15 per share. The tax rate on dividends is 20 percent. All else the same, what price will the stock open at tomorrow morning?
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Financial Markets and Institutions
Authors: Frederic S. Mishkin, Stanley G. Eakins
5th edition
321280299, 321280296, 978-0321280299
