The common stock of Patee International goes ex-dividend tomorrow. The stock closed at a price of $33.60 a share today. This quarter, the company is paying a cash dividend of $0.24 a share and a liquidating dividend of $0.60 a share. Ignoring taxes and assuming that all else is held constant, what will the ex-dividend price be tomorrow morning?
A) $32.76
B) $33.00
C) $33.36
D) $33.96
E) $34.23
Correct Answer:
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