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Outstanding Shares Pearce & Company has 18 million shares of $3 par value common stock outstanding. The company believes that its current market price of

Outstanding Shares Pearce & Company has 18 million shares of $3 par value common stock outstanding. The company believes that its current market price of $100 per share is too high and decides to execute a 3-for-1 forward stock split to lower the price.

How many shares will be outstanding following the stock split?

million What will be the new par value per share? $

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