Acme Explosives Inc is an international producer of creative demolition products. Selected financial information for Acme is provided in the table below. Acme wants to distribute all of its cash with a special dividend
The stock price and market capitalization of the company immediately after the announcement are shown in the table. What price will the stock trade at on the ex-dividend day?
Selected Financial Information
for Acme Corporation
Cash $28,738.2M
Market Capitalization $177,809.7M
Shares Outstanding 6,330M
Stock Price $28.09
Debt $0
A) $22.91
B) $23.55
C) $26.33
D) $28.09
E) $31.11
B
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