The Common Stock of White's Hardware Closed at $42

question 53

Multiple Choice

The common stock of White's Hardware closed at $42.15 a share today.Tomorrow morning,the stock goes ex-dividend.The dividend that is being paid this quarter is $1.26 a share.Assume the tax rate on dividends is 15 percent.All else equal,what should the opening stock price be tomorrow morning?

• A)$42.15
• B)$40.94
• C)$40.89
• D)$41.08
• E)$41.23

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