Problemdark day inc has declared a 560 per share dividend, Ask an Expert

Accounting

Problem:

Dark Day, Inc., has declared a $5.60 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 15 percent. New IRS regulations require that taxes be withheld at the time the dividend is paid. Dark Day sells for $94.10 per share, and the stock is about to go ex-dividend.

Required:

Question: What do you think the ex-dividend price will be?

Note: Provide thorough explanation of the given question.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91173521

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