Answer:
$52.17
Explanation:
The computation of the new share price is shown below:
= Selling price of the stock × (1 ÷ 1 + stock dividend percentage)
= $60 × (1 ÷ 1 + 0.15)
= $60 × (1 ÷ 1.15)
= $60 × 0.8695
= $52.17
We simply divide the selling price of the stock with the stock dividend percentage so that the accurate share price can come.
