(Solution) Amos owns 1,200 share of Fasteners, Inc. stock. The stock closed today at $41.20 a share. Tomorrow, the firm will pay its annual dividend of $.70 a... > Snapessays.com
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(Solution) Amos owns 1,200 share of Fasteners, Inc. stock. The stock closed today at $41.20 a share. Tomorrow, the firm will pay its annual dividend of $.70 a...


Amos owns 1,200 share of Fasteners, Inc. stock.  The stock closed today at $41.20 a share.  Tomorrow, the firm will pay its annual dividend of $.70 a share.  The tax rate on dividends is currently 15 percent with the tax being withheld at the time of payment.  All else constant, what will the ex-dividend price of the stock be tomorrow morning?

 

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This question was answered on: Sep 21, 2023

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