Innovative Technologies has 46,000 shares of stock outstanding at a market price of $6 a share.Which one of the following stock splits should the firm declare if it wants to increase the stock price to exactly $16 a share? Ignore any taxes or market imperfections.
A) 5-for-2 stock split
B) 3-for-1 stock split
C) 1-for-3-reverse stock split
D) 2-for-5 reverse stock split
E) 3-for-8 reverse stock split
Correct Answer:
Verified
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