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The market value balance sheet for Tidwell Manufacturing isshown here. Tidwell has declare

The market value balance sheet for Tidwell Manufacturing isshown here. Tidwell has declare

The market value balance sheet for Tidwell Manufacturing isshown here. Tidwell has declared a 15 percent stock dividend. Thestock goes ex-dividend tomorrow (the chronology for a stockdividend is similar to that for a cash dividend). There are 30,000shares of stock outstanding.

Market Value Balance Sheet

 

 

 

 

  Cash

$167,000 

  Debt

$347,000

  Fixed assets

1,140,000 

  Equity

960,000 

 

 

 

 

      Total

  $1,307,000 

      Total

$1,307,000 

 

 

 

 

 

         

 

Required:

What will the ex-dividend price be? (Donot round intermediate calculations.Round youranswer to 2 decimal places (e.g., 32.16).)

Abhinav 30-Nov-2019

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