HiTec is growing fast and wishes to retain all its earnings to finance future growth.Instead of a cash dividend, HiTec declares a 10 percent stock dividend.If the price per share of HiTec stock is $30 before the ex-dividend date, what will be the price on the ex-dividend date?
A) $27.27
B) $27.94
C) $33.00
D) $27.00
Correct Answer:
Verified
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