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Boats and Bait has 57,000 shares outstanding that sell for a price of $53 per share. The stock has a par value of $3 per

Boats and Bait has 57,000 shares outstanding that sell for a price of $53 per share. The stock has a par value of $3 per share. The company's balance sheet shows capital surplus of $80,000 and retained earnings of $120,000. If the company declares a stock dividend of 15 percent, what is the new common stock value on the balance sheet?

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Essentials of Corporate Finance

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