The Turtle Cave currently has 15,000 shares of stock outstanding that sell for $31 per share. Assume no market imperfections or tax effects exist. What will be the new share price if the firm declares a stock dividend of 10 percent?
A) $32.17
B) $28.18
C) $29.47
D) $34.10
E) $30.30
Correct Answer:
Verified
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