The market value balance sheet for Outbox Manufacturing is shown here. Outbox has declared a stock dividend of 30 percent. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend). Market Value Balance Sheet Cash $ 90,000 Debt $ 149,000 Fixed assets 740,000 Equity 681,000 Total $ 830,000 Total $ 830,000
There are 25,000 shares of stock outstanding. What is the current share price?
What will the ex-dividend price be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)