After the market close on May 11, 2018, Adaptec, Inc., distributed a dividend of shares of the stock of its software division, Roxio, Inc. Each Adaptec shareholder received 0.1606 share of Roxio stock per share of Adaptec stock owned. At the time, Adaptec stock was trading at $10.55 per share (cum-dividend), and Roxio’s share price was

$14.23 per share. In a perfect market, what would be Adaptec’s ex-dividend share price after this transaction?