Multiple Choice
Metal Fabricators recently sold its poorest performing division and realized net proceeds from the transaction of $1.63 million.The firm has 320,000 shares of stock outstanding and a market price of $49 a share.The firm is now preparing to distribute the entire sale proceeds in the form of a liquidating dividend.What is the best estimate of the ex-dividend stock price? Ignore taxes and market imperfections.
A) $43.91
B) $41.38
C) $44.40
D) $43.79
E) $44.14
Correct Answer:
Verified
Correct Answer:
Verified
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