Gillison Markets is being acquired by Bakersfield Ltd. for $129,000 worth of Bakersfield Ltd. stock. Bakersfield Ltd. has 7,500 shares of stock outstanding at a price of $54 a share. Gillison Markets has 1,500 shares outstanding with a market value of $27 a share. The incremental value of the acquisition is $3,700. How many new shares of stock will be issued to complete this acquisition?
A) 2,389 shares
B) 3,186 shares
C) 4,778 shares
D) 7,209 shares
E) 8,063 shares
Correct Answer:
Verified
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