Problemmid-state bankcorp recently declared a 7-for-2 stock, Ask an Expert

Accounting

Problem:

Mid-State BankCorp recently declared a 7-for-2 stock split. Prior to the split, the stock sold for $60 per share.

Required:

Question: If the firm's total market value is unchanged by the split, what will the stock price be following the split?

$20.40
$17.14
$14.74
$16.80
$13.54

Note: Show supporting computations in good form.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91166913

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