East Coast Marina has 220,000 shares of stock outstanding.The current market value of the firm is $18.92 million.The company has retained earnings of $3.8 million,paid in surplus of $6.7 million,and a common stock account value of $220,000.The company is planning a 3-for-2 stock split.What will the market price per share be after the split?
A) $28.67
B) $57.33
C) $66.67
D) $108.00
E) $129.00
Correct Answer:
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