Mini-Exercise 8-3 (Algo) Effects of a stock split LO 4 Assume that you own 1,000 shares of $10 par value common stock and the company has a 5-for-1 stock split when the market price per share is $27.50. Required: a. How many shares of common stock will you own after the stock split? b. What will probably happen to the market price per share of the stock? (Round your answer to 2 decimal places.) a. Common stock shares b. Market price per share