Mount Reindeer Pure Spring Water Inc

Mount Reindeer Pure Spring Water Inc. is considered a liquid company because of its generous dividend policy. Prior to the firm's ex-dividend date of May 15^th, the stock is selling for a price of $23.18 per share. If you purchase the stock prior to May 15^th, you will receive a dividend of $1.15. If you waited until May 16^th to buy the stock, and there was no other event to change the price of the stock, what would be the stock's expected price?

A) $18.58
B) $22.03
C) $23.18
D) Unknown