Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

An investor owns 12.23 million shares in Risky Business at the start of this year. The company is an Australian firm currently trading on the

An investor owns 12.23 million shares in Risky Business at the start of this year. The company is an Australian firm currently trading on the ASX and it is about to announce a 4-for-1 stock split. Two days after the stock split, the stock price was $19.57/share and it was $85.61/share at the start of this year. The value of Risky Business shares owned by the investor two days after the stock split would be $ (____________)million. [Note: Your answer must be accurate to two decimal places, but you may leave your answer with more than 2 decimal places.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Management For Nurse Managers Merging The Heart With The Dollar

Authors: J. Michael Leger

5th Edition

1284230937, 9781284230932

More Books

Students also viewed these Finance questions

Question

What are the two basic features of a fixed-income security?

Answered: 1 week ago

Question

Discuss how selfesteem is developed.

Answered: 1 week ago