The Retail Outlet Has 6,000 Shares of Stock Outstanding with a Par

The Retail Outlet has 6,000 shares of stock outstanding with a par value of $1 per share.The current market value of the firm is $420,000.The balance sheet reflects current retained earnings of $84,400.The company just announced a 1-for-5 reverse stock split.What will the par value per share be after the split?

A) $1.00
B) $.20
C) $.50
D) $5.00
E) $2.50