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Murphy's, Inc., has 32,600 shares of stock outstanding with a par value of $1 per share. The market value is $13 per share. The balance
Murphy's, Inc., has 32,600 shares of stock outstanding with a par value of $1 per share. The market value is $13 per share. The balance sheet shows $89,150 in the capital in excess of par account, $32,600 in the common stock account, and $160,950 in the retained earnings account. The firm just announced a stock dividend of 14 percent. What will the market price per share be after the dividend? Multiple Choice $13.00 $12.40 $13.28 $12.28 $11.40
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