Problem 14.07 – Quinn Corp. or Tempest, Inc.

Essentials of Corporate Finance

Ross, Westerfield, and Jordan

10th Edition and 11th Edition

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Difficulty – Medium

Quin Corp. or Tempest, Inc. has a balance sheet with certain market values for cash, fixed assets, and equity. The company has a certain number of shares of stock outstanding and has declared a dividend of a certain amount per share. The stock will go ex-dividend tomorrow, and any tax effects are ignored. Calculate the stock price today and tomorrow, and determine the balance sheet after the dividends are paid.

NOTE: There are 2 versions of this problem! This version asks you to determine the stock price today and the stock price tomorrow. Then complete a balance sheet for the company.

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