Question

The market value balance sheet for Tidwell Manufacturing is shown here. The company has declared a 15 percent stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend). There are 30,000 shares of stock outstanding Market Value Balance Sheet Cash Fixed assets Total s 167,000 DebtS 1140,000 Equity $1,307,000 Total 960,000 $1,307,000 What will the ex dividend price be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Ex dividend price 17.86