The balance sheet for Quinn Corporation is shown here in market value terms. There are 10,000 shares of stock outstanding. Market Value Balance Sheet $ Cash Equity 44,200 $ 404,200 Fixed assets 360,000 $ $ Total Total 404,200 404,200 The company has declared a dividend of $1.90 per share. The stock goes ex dividend tomorrow. Ignoring any tax effects, what is the stock selling for today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price per share

Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
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The balance sheet for Quinn Corporation is shown here in market
value terms. There are 10,000 shares of stock outstanding.
Market Value Balance Sheet
$
Cash
Equity
44,200
$
404,200
Fixed assets
360,000
$
$
Total
Total
404,200
404,200
The company has declared a dividend of $1.90 per share. The stock
goes ex dividend tomorrow.
Ignoring any tax effects, what is the stock selling for today? (Do not
round intermediate calculations and round your answer to 2 decimal
places, e.g., 32.16.)
Stock price
per share
Transcribed Image Text:The balance sheet for Quinn Corporation is shown here in market value terms. There are 10,000 shares of stock outstanding. Market Value Balance Sheet $ Cash Equity 44,200 $ 404,200 Fixed assets 360,000 $ $ Total Total 404,200 404,200 The company has declared a dividend of $1.90 per share. The stock goes ex dividend tomorrow. Ignoring any tax effects, what is the stock selling for today? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Stock price per share
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