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QUESTION

The balance sheet for Imagine Corp. is shown here in market value terms. There are 3,000 shares of stock outstanding.

The balance sheet for Imagine Corp. is shown here in market value terms. There are 3,000 shares of stock outstanding.

Market Value Balance Sheet Cash

$

36,000

Equity

$

179,000 

  Fixed assets

143,000

     Total

$

179,000

   Total

$

179,000 

Topic: Repurchase of Stock 

The company has declared a dividend of $1.94 per share. The stock will go ex-dividend tomorrow. Ignore taxes.

a) What is the stock selling for today? (Round answer to 2 decimal places. Do not round intermediate calculations)

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