The common stock of White's Hardware closed at $36.80 a share today.Tomorrow morning,the stock goes ex-dividend.The dividend that is being paid this quarter is $1.40 a share.The tax rate on dividends is 25 percent.All else equal,what should the opening stock price be tomorrow morning?
A) $35.19
B) $35.40
C) $35.52
D) $35.75
E) $36.80
Correct Answer:
Verified
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