question archive Top O' the Morning Inc
Top O' the Morning Inc
Subject:FinancePrice: Bought3
Top O' the Morning Inc., has declared a $6 per-share dividend. Suppose capital gains are not taxed, but dividends are taxed at 17%. New IRS regulations require that taxes be withheld at the time the dividend is paid. Top O' the Morning sells for $60.52 per share, and the stock is about to go ex-dividend.
What will be the ex-dividend price?
