On Thursday,February 7,Baretta Pistols Inc

Multiple Choice

On Thursday,February 7,Baretta Pistols Inc.declared a $0.75 per share dividend to be paid on Monday,April 15; the date of record will be Thursday,March 18.Baretta's stock closed $17.25 on the last cum-dividend date.What will the opening price be on the ex-dividend date? (Assume perfect markets.)

A) $15.75
B) $16.50
C) $17.50
D) $17.25
E) $18.00