The market value balance sheet for Bigham Manufacturing is shown here.
Market Value Balance Sheet
Cash
$138,000
Debt
$134,000
Fixed assets
601,000
Equity
605,000
Total
$739,000
Total
$739,000
Bigham has declared a 28% stock dividend. The stock goes ex dividend tomorrow (the chronology for a stock dividend is similar to that for a cash dividend). There are currently 53095 shares outstanding.
What is the stock price today? (Round answer to 2 decimal places. Do not round intermediate calculations)