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 $30 per share. How many of the old shares must be given up for one new share to achieve the $30 price, assuming this transaction has no effect on total market value?

Select the correct answer. a. 48.00 b. 60.00 c. 57.00 d. 54.00 e. 51.00