Question
Smith Inc. , an all equity company, has 70,000 shares outstanding and a book value of equity of $230,000. The current market price of the
Smith Inc. , an all equity company, has 70,000 shares outstanding and a book value of equity of $230,000. The current market price of the stock is $8.50 per share. If Smith Inc. does a 1 for 9 reverse split, the new market price will be $___________ (please round to 2 decimals and do not use dollar sign)
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TExES Business And Finance Secrets Study Guide
Authors: TExES Exam Secrets Test Prep Team
1st Edition
1516706862, 978-1516706860
