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Murphy's, Inc. has 32,100 shares of stock outstanding with a par value of $1.00 per share. The market value is $13.00 per share. The balance sheet shows $88,150.00 in the capital in excess of par account, $32,100.00 in the common stock account, and $150,950 in the retained earnings account. The firm just announced a 12 percent (small) stock dividend. What will the market price per share be after the dividend?

$11.61

$12.50

$13.00

$13.50

$12.61

Basic Finance, Finance

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