Question: 5 points Save Answer ABC Corp. currently has $23 million in excess cash that it plans on returning to its shareholders through a dividend payment.

5 points Save Answer ABC Corp. currently has $23 million in

5 points Save Answer ABC Corp. currently has $23 million in excess cash that it plans on returning to its shareholders through a dividend payment. ABC's current share price is $22.7 and it has 30.5 million shares outstanding. In addition, the market value of the company's debt is $14 million. Assuming perfect markets, what will the share price of ABC be after it pays the dividend? Round your answer to two decimals (do not include the $-symbol in your answer)

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