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Willis & Company has 20 million shares of $1 par value common stock outstanding. The company believes that its current market price of $100 per

Willis & Company has 20 million shares of $1 par value common stock outstanding. The company believes that its current market price of $100 per share is too high and decides to execute a 4-for-1 forward stock split to lower the price.

How many shares will be outstanding following the stock split? What will be the new par value per share?

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