the market value of yeates corperations common stock has become excessively high. the stock was currently selling for $360 per share. to reduxe the market price of the common stock, yeates declared a 4-for-1 stock split for the 320000 outstanding shares of its $10 par value common stock.

The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $360 per share. To reduce the market price of the common stock, Yeates declared a 4 -for-1 stock split for the 320,000 outstanding shares of its $10 par value common stock. Required b. Determine the number of common shares outstanding and the par value after the split. Note: Round par value answer to 2 decimal places