The Peanut Shop has 5,000 shares of stock outstanding with a par value of $1.00 per share. The current market value of the firm is $390,000. The company just announced a 3-for-1 stock split. What will the market price per share be after the split?
A) $13
B) $26
C) $42
D) $52
E) $78
Correct Answer:
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