The market value balance sheet for Bobaflex Manufacturing is shown here. The company has declared a 15 percent stock dividend. 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 $ 97,000
Debt $ 156,000
Fixed assets 810,000
Equity 751,000
Total $ 907,000
Total $ 907,000
There are 32,000 shares of stock outstanding. What is the current share price? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.) Current stock price $ ________
What will the ex-dividend price be? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
Ex-dividend Price $________