In recent years Constable Inc. has suffered losses, and its stock currently sells for only $0.50 per share. Management wants to use a reverse split to get the price up to a more "reasonable" level, which it thinks is $11 per share. How many of the old shares must be given up for one new share to achieve the $11 price, assuming this transaction has no effect on total market value?

a. 20.00

b. 16.00

c. 22.00

d. 18.00

e. 14.00

SHOW WORK / CALCULATIONS PLEASE