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The stock of Red's Hardware closed at $57.35 per share today. Tomorrow morning, the stock...

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Finance

The stock of Red's Hardware closed at $57.35 per share today. Tomorrow morning, the stock goes ex-dividend, paying a dividend of $1.75 per share. The tax rate on dividends is 10 percent. All else the same, what price will the stock open at tomorrow morning? a. $57.35 b.$55.78 c.$56.48 d. 57.18 e. $55.60

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