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A corporation has 76,031 shares of $40 par value stock outstanding that has a current market value of $300. If the corporation issues a 4-for-1
A corporation has 76,031 shares of $40 par value stock outstanding that has a current market value of $300. If the corporation issues a 4-for-1 stock split, what amount approximately will the market value of the stock fall to?
Select the correct answer.
a. $19,008
b. $260
c. $75
d. $10
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