The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $$240$ per

share. To reduce the market price of the common stock, Yeates declared a $3-$for$-1$ stock split for the $100,000$ 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