Glendale Paving currently has 120,000 shares of stock outstanding that sell for $54 per share.Assume no market imperfections or tax effects exist.What will the new share price be if the firm declares a 40 percent stock dividend?
A) $31.12
B) $32.08
C) $35.19
D) $38.57
E) $40.00
Correct Answer:
Verified
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