Inland Co., has a total of 84,000 shares of common stock outstanding and no preferred...
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Accounting
Inland Co., has a total of 84,000 shares of common stock outstanding and no preferred stock. Total stockholders' equity at the end of the current year amounts to $5 million, and the market value of the stock is $66 per share. At year-end, the company declares a 5 percent stock dividendone share for each 20 shares held. If all parties concerned clearly recognize the nature of the stock dividend, what should you expect the market price per share of the common stock to be on the ex-dividend date? (Round your answer to 2 decimal places.)
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