Answer: $78
Explanation:
From the question, we are informed that the stock of Company A gained 2% today to $79.56. The opening price of the stock in the beginning of the day will be calculated as:
= [100% / (100% + 2%)] × 79.56
= (100% / 102%) × 79.56
= 1/1.02 × 79.56
= 79.56/1.02
= 78
Therefore, opening price of the stock in the beginning of the day is $78