Q Search this course Graded Problem Set: Chapter 14. Distributions to Shareholders: Dividends and Share Repurchases 2. Problem 14.02 X Click here to read the eBook: Stock Dividends and Stock Splits STOCK SPLIT A-Z Emergency Medical's stock trades at $85 a share, The company is contemplating a 3-for-1 stock split. Assuming that the stock split will have no effect on the market value of its equity, what will be the company's stock price following the stock split? Round your answer to the nearest cent. $ 28.33 " Hide Feedback Correct Post Submission Feedback Solution Actual market price = $85; Split - 3 for 1; New market price = ? $85 3/1 = $28.33 Solution er Parity Correct Response Click here to read the eBook: Stock Dividends and Stock Splits STOCK SPLIT Emergency Medical's stock trades at $85 a share. The company is contemplating a 3-for-1 stock split. Assuming that the stock split will have no effect on the market value of its equity, what will be the company's stock price following the stock split? Round your answer to the nearest cent. 28.33 11:32 PM arch O e ? 12/5/2019