Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

(Stock splits and stock dividends) Chaney's Fatburner Gyms, Inc. operates a chain of exercise facilities throughout the Midv NBAT QUESTION als to middle-aged men who

image text in transcribed

(Stock splits and stock dividends) Chaney's Fatburner Gyms, Inc. operates a chain of exercise facilities throughout the Midv NBAT QUESTION als to middle-aged men who suffer from obesity problems and want to improve their health by entering an exercise program. The firm currently has 8,400,000 shares of stock outstanding that have a current market price of $10.78. If all else remains constant, what will be the price of Chaney's shares after each of the following? a. A stock dividend of 19.5 percent b. A four-for-one stock split. c. A stock dividend of 33.1 percent. d. What would be the total number of shares outstanding after a through c? a. The price of Chaney's shares after a stock dividend of 19.5% will be $ 9.02. (Round to the nearest cent.) b. The price of Chaney's shares after a four-for-one stock split will be $ 2.70. (Round to the nearest cent.) c. The price of Chaney's shares after a stock dividend of 33.1% will be $ 8.10. (Round to the nearest cent.) d. The total number of shares outstanding after the stock dividend of 19.5% is 10080000 shares. (Round to the nearest integer.)

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Bitcoin Technical Innovations From The Trenches

Authors: Sjors Provoost

1st Edition

9090360425, 978-9090360423

More Books

Students also viewed these Finance questions