Timsang inc has declared a 700 per share dividend suppose, Ask an Expert

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Timsang, Inc., has declared a $7.00 per share dividend. Suppose capital gains are not taxed, but dividends are taxed at 25 percent. New IRS regulations require that taxes be withheld at the time the dividend is paid. The company's stock sells for $121 per share, and the stock is about to go ex-dividend.

What do you think the ex-dividend price will be? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)

Ex-dividend price $

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Financial Management, Finance

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