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95. The Mining Co. has 110,000 shares of stock outstanding. The current market value of the firm is $5.5 million. The company has retained earnings
95. The Mining Co. has 110,000 shares of stock outstanding. The current market value of the firm is $5.5 million. The company has retained earnings of $1.8 million, paid in surplus of $2.2 million, and a common stock account value of $.11 million. The company is planning a 5-for-1 stock split. What will the retained earnings account value be after the split? A. $0.36 millionB. $0.45 millionC. $1.8 millionD. $7.2 millionE. $9.0 million
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