Metal Fabricators recently sold its poorest performing division and realized netproceeds from the transaction of $1.63 million. The firm has 320,000 shares of stock outstanding and a market price of $49 a share. The firm is now preparing to distribute the entire sale proceeds in the form of a liquidating dividend. What is the best estimate of the ex-dividend stock price? Ignore taxes and market imperfections.
$43.91
$41.38
$44.40
$43.79
$44.14