Question
Mill Creek Corporation (MCC) currently has 475,000 shares of stock outstanding that sell for $80 per share. Assuming no market imperfections or tax effects exist,
Mill Creek Corporation (MCC) currently has 475,000 shares of stock outstanding that sell for $80 per share. Assuming no market imperfections or tax effects exist, what will the share price be after:
a. MCC has a four-for-three stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
New share price ?
b. MCC has a 20% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
New share price ?
c. MCC has a 52.5% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
New share price ?
d. MCC has a three-for-seven reverse stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.)
New share price ?
Determine the new number of shares outstanding in parts (a) through (d). (Do not round intermediate calculations. Round the final answers to the nearest whole number.)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Fintech In Islamic Finance Theory And Practice
Authors: Umar A. Oseni, S. Nazim Ali
1st Edition
1138494801, 978-1138494800
