Brady inherited 1,750 shares of LNM, Inc. The stock is selling in the market for $82 per share and the company is contemplating a 1-for-3 stock split. Given this information, which of the following statements is correct?
A) Brady will have 583.33 shares and stock's price will be near $246.00.
B) Brady will have 583.33 shares and stock's price will be near $27.33.
C) Brady will have 5,250 shares and stock's price will be near $246.00.
D) Brady will have 5,250 shares and stock's price will be near $27.33.
Correct Answer:
Verified
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Q89: Brady inherited 500 shares of LNM, Inc.
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