Effect of stock split Obj. 4 Willey’s Grill & Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Willey’s Grill & Restaurant, which had 325,000 shares of common stock outstanding, declared a 3-for-1 stock split.

a. What will be the number of shares outstanding after the split?

b. If the common stock had a market price of $450 per share before the stock split, what would be an approximate market price per share after the split?

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