Glendale Paving currently has 45,000 shares of stock outstanding that sell for $38 per share. Assume no market imperfections or tax effects exist. What will be the new share price if the firm declares a stock dividend of 22 percent?
A) $46.36
B) $38.00
C) $33.75
D) $31.15
E) $40.00
Correct Answer:
Verified
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