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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

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 $40 per share. How many of the old shares must be given up for one new share to achieve the $40 price, assuming this transaction has no effect on total market value? Select the correct answer.

a. 80.00
b. 78.00
c. 76.00
d. 82.00
e. 74.00

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