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Robinson's has 30,000 shares of stock outstanding with a par value of $1 per share and a market price of $42 a share. The balance

Robinson's has 30,000 shares of stock outstanding with a par value of $1 per share and a market price of $42 a share. The balance sheet shows $30,000in the common stock account, $435,000 in the paid in surplus account, and $370,000 in the retained earnings account. The firm just announced a 3-for-2stock split. How many shares of stock will be outstanding after the split?

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