The common stock of Tina's Tires closed at $68.25 a share today.Tomorrow morning, the stock goes ex-dividend.The dividend that is being paid this quarter is $1.56 per share.Assume the tax rate on dividends is 21 percent.All else equal, what should the opening stock price be tomorrow morning?
A) $68.09
B) $66.88
C) $66.83
D) $67.02
E) $67.17
Correct Answer:
Verified
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