Alexander Pools has 700,000 shares authorized and 250,000 shares issued and outstanding of its $4 par value common stock. The stock is currently selling for $60 per share. If Alexander Posts declared and issued a three-for-one stock split adjusting its par value, what would be the effect on the following items after the stock split? Assume the old shares were exchanged for 750.000 new shares Your answer: Lot Shares led O 500,000 Par Value $2.001 Market Price per Share $30.00 0 LatShared 750,000 Par Value $1.33 Market Price per Share $20.00 Eof Shared Par Value O 750,000 $4.00 Market Price per Share $20.00 Ent Shares Ind 1000.000 Par Value $1.00 Market Price per hace $15.00