Question
Simmons Mineral Operations, Inc., (SMO) currently has 525,000 shares of stock outstanding that sell for $60 per share. Assuming no market imperfections or tax effects
Simmons Mineral Operations, Inc., (SMO) currently has 525,000 shares of stock outstanding that sell for $60 per share. Assuming no market imperfections or tax effects exist, what will the share price be after: (Do not round intermediate calculations. Round answers to 2 decimal places)
a. SMO has a four-for-three stock split? New share price $---------
b. SMO has a 10 percent stock dividend? New share price $------
c. SMO has a 46.5 percent stock dividend? New share price $-----
d. SMO has a four-for-seven reverse stock split? New share price $------
e. Determine the new number of shares outstanding in parts (a) through (d). ( round your answer to the nearest whole dollar amount)
a-----
b----
c-----
d-----
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