1. Effect of Stock Split

   Copper Grill Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Southwest. Copper Grill Restaurant Corporation, which had 45,000 shares of common stock outstanding, declared a 2-for-1 stock split.

   a. What will be the number of shares outstanding after the split? shares

   b. If the common stock had a market price of $108 per share before the stock split, what would be an approximate market price per share after the split? $ per share