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South Shore Limited has 14,500 shares of stock outstanding with a par value of $1 per share and a market price of $54.10 a share.
South Shore Limited has 14,500 shares of stock outstanding with a par value of $1 per share and a market price of $54.10 a share. The firm just announced a stock split of seven-for-two. What will be the par value of the stock after the split?
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A: $.29
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B; $.58
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C: $1.00
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D: $7.00
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E: $3.50
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