Question: Can you please solve it by using a formula, please no excel. i cant use it on exams. thank you! Question 6 2 pts The

Can you please solve it by using a formula, please no excel. i cant use it on exams. thank you!

Question 6 2 pts The board of directors of McKay Inc has approved a 20% stock dividend. The firm currently has net income of $900,000. There are 300,000 common shares outstanding and the stock has a P/E ratio of 8 . What will be the firm's common stock price after the stock dividend? 518 $22 $24 $20

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