The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $340 per share. To reduce the market price of the common stock, Yeates declared a 5-for-1 stock split for the 300,000 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. Number of common shares outstanding Par value per share after the split