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The Bike Co. has 20,000 shares of stock outstanding. The current market value of the firm is RM328,000. The company has retained earnings of RM27,000,

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The Bike Co. has 20,000 shares of stock outstanding. The current market value of the firm is RM328,000. The company has retained earnings of RM27,000, capital in excess of par value of RM160,000, and a common stock account value of RM20,000. The company is planning a 2-for-5 reverse stock split. Determine the par value per share be after the split. [CLO2:PLO2:C3](2 marks)

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