Rocky Ground Camping Supply Inc. has 200,000 shares of stock outstanding, each with a market value of $15. In addition, on the balance sheet the common stock account has a balance of $1,950,000 and retained earnings of $1,450,000. If the firm declares a 4-for-1 stock split, what is the stock's market value after the split? Assume there are no taxes or transaction costs.

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After a 4-for-1 stock split, each existing share is divided into 4 shares, increasing the total number of shares to 800,000 (200,000 * 4). The market value per share is reduced proportionally to maintain the same overall market capitalization, so the new market value per share is $15 / 4 = $3.75.