Calculate the ex-dividend price based on the data

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Reference no: EM131329420

Dividends and taxes: Midland Incorporated has declared a $6.50 per share dividend and the stock is about to go ex-dividend. Calculate the ex-dividend price based on the following data: Capital gains are not taxed. There is a 12 percent tax rate on dividends. Taxes must be withheld at the time the dividend is paid, according to new IRS regulations. Midland sells for $76 per share.

Reference no: EM131329420

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