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US Parcel Inc has 9000 shares of stock outstanding and a current stock price of $25.00 per share. The company has no debt. The company

US Parcel Inc has 9000 shares of stock outstanding and a current stock price of $25.00 per share. The company has no debt. The company is currently short on cash and announces that instead of a cash dividend they will pay the following stock dividend: one new share of stock for each 10 shares held (that is a 10% stock dividend). What will the new price per share if US Parcel be after the stock dividend goes into effect?

A.$22.73

B.$24.56

C.$25.32

D.$28.67

E.$29.43

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