On December 10, Daniel Co. split its stock 5-for-2 when the market value was $65 per share. Prior to the split, Daniel had 200,000 shares of $15 par value stock. After the split, Daniel's outstanding shares would be

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Before the split, Daniel had 200,000 shares, each with a par value of $15, for a total par value of $3,000,000. 
After the split, the number of shares increased by 5/2 times, so the new total number of shares would be 200,000 x 5/2 = 500,000 shares. 
However, the par value per share would be reduced by 2/5 times, so the new par value per share would be $15/(5/2) = $6. 
Therefore, the new total par value would be 500,000 x $6 = $3,000,000, which is equal to the old total par value. 
Thus, the outstanding shares after the split would be 500,000.