Question
Simmons Mineral Operations, Inc., (SMO) currently has 455,000 shares of stock outstanding that sell for $40 per share. Assuming no market imperfections or tax effects
Simmons Mineral Operations, Inc., (SMO) currently has 455,000 shares of stock outstanding that sell for $40 per share. Assuming no market imperfections or tax effects exist, what will the share price be after: |
a. | SMO has a five-for-three stock split? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
b. | SMO has a 15 percent stock dividend? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
c. | SMO has a 48.5 percent stock dividend? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
d. | SMO has a three-for-seven reverse stock split? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) |
e. | Determine the new number of shares outstanding in parts (a) through (d). (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.) |
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