Question
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?
-
A: $.29
-
B; $.58
-
C: $1.00
-
D: $7.00
-
E: $3.50
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Personal Finance
Authors: E. Thomas Garman, Raymond Forgue
9th Edition
0618938737, 978-0618938735
