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XYZ Industries has experienced a steep slump in its share price over the last 18 months because of a faulty product recall and general mismanagement.
XYZ Industries has experienced a steep slump in its share price over the last 18 months because of a faulty product recall and general mismanagement. Following a management shakeup, the board of directors has decided to engineer a reverse stock split to shore up the firm's share price and put it back into the normal target price range. The shares currently sell for $1.43. Assuming the company were to announce a 1-for-11 reverse stock split, what is the expected share price following the reverse split?
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