On June 13, the board of directors of Siewert Inc. declared a 2-for-1 stock split on its 120 million, $5 par, common shares, to be distributed on July 1. The market price of Siewert common stock was $23 on June 13. Prepare the journal entry to record the stock split if it is not to be effected in the form of a stock dividend. What is the par per share after the split??