City Center Pharmacy has 11,500 shares of stock outstanding with a par value of $1 per share and a market value of $12 a share.The company just announced a 3-for-7 reverse stock split.What will the market value per share be after the reverse stock split?
A) $5.14
B) $12.00
C) $23.33
D) $28.00
E) $33.14
Correct Answer:
Verified
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