11)Ross-Jordan Financial has suffered losses in recent years, and its stock currently sells for only $0.60 per share. Management wants to use a reverse split to get the price up to a more "reasonable" level, which it thinks is $15 per share. How many of the old shares must be given up for one new share to achieve the $15 price, assuming this transaction has no effect on total market value?

a.

18.00

b.

25.00

c.

19.00

d.

21.00

e.

15.60