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Companies sometimes consider stock splits to bring down the price so that the stock attracts more purchases. Consider the case of Tobotics Inc.: Tobotics Inc.

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Companies sometimes consider stock splits to bring down the price so that the stock attracts more purchases. Consider the case of Tobotics Inc.: Tobotics Inc. currently has 15, 000 shares of common stock outstanding. Its management believes that its current stock price of $95 per share is too high. The company is planning to conduct stock splits in the ratio of 3 for 1 as described in the animation. If Tobotics Inc. declares a 3-for-l stock split, what will be the price of the company's stock after the split, assuming that the total value of the firm's stock remains the same after the split

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