Question
On December 31, 2020, Hawai Inc. had 10 million shares outstanding, which traded for $53.6 per share. On January 13, 2021, the CEO announced
On December 31, 2020, Hawai Inc. had 10 million shares outstanding, which traded for $53.6 per share. On January 13, 2021, the CEO announced a 6-for-5 stock split. Every shareholder would receive 6 new shares for every 5 old shares held prior to the announcement. What will the stock price be after the split? Make your answer accurate to cents. That is, if your answer is 79.252, wrote 79.25.
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Accounting Principles
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
13th edition
978-1-119-4110, 1119411483, 9781119411017, 978-1119411482
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