Question: RFC Corp. has announced a $1.00 dividend. If RFC's price last price cum-dividend is $50.00, what should its first ex-dividend price be (assuming perfect capital

RFC Corp. has announced a $1.00 dividend. If RFC's price last price cum-dividend is $50.00, what should its first ex-dividend price be (assuming perfect capital markets)?

Please assist with the formula;

RFC's first ex-dividend price should be $ ____. (Round to two decimal places.)

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