The market value balance sheet for Briggs Manufacturing is shown here. The company has declared...
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The market value balance sheet for Briggs Manufacturing is shown here. The company has declared a 20 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 21,000 shares of stock outstanding. Market Value Balance Sheet Cash Fixed assets $135,000 730,000 Debt Equity $215,000 650,000 Total $865,000 $865,000 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
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