Effect ofStock Split

Audrey's Restaurant Corporation wholesales ovens and ranges to restaurants throughout the Northwest. Audrey's Restaurant Corporation, which had 30,000 shares ofcommon stockoutstanding, declared a 4-for-1 stock split (3 additional shares for each share issued).

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

b.If the common stock had a market price of $240 per share before the stock split, what would be an approximate market price per share after the split?