Question
Auto Supply has 54,200 shares of stock outstanding with a par value of $1 per share and a market value of $6.20 a share. The
Auto Supply has 54,200 shares of stock outstanding with a par value of $1 per share and a market value of $6.20 a share. The company just announced a two-for-nine reverse stock split. What will be the par value per share after the split?
Multiple Choice
- $2.50
- $1.00
- $.22
- $4.50
- $.44
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Introduces Quantitative Finance
Authors: Paul Wilmott
2nd edition
470319585, 470319581, 978-0470319581
