Question $9$

$3$ pts

Poff Industries' stock currently sells for $$120$ a share. You own $100$ shares of the stock. The company is contemplating a

$3-$for$-1$ stock split. Which of the following best describes what your position will be after such a split takes place?

$$ You will have $300$ shares of stock, and the stock will trade at or near $$40$ a share

$$ You will have $100$ shares of stock, and the stock will trade at or near $$40$ a share

$$ You will have $150$ shares of stock, and the stock will trade at or near $$120$ a share

$$ You will have $100$ shares of stock, and the stock will trade at or near $$40$ a share

$$ You will have $300$ shares of stock, and the stock will trade at or near $$120$ a share