You own stock worth an estimated $1 million in LPL Corp. In addition, you have personal assets worth another $2 million. Suppose LPL Corp. becomes insolvent, with debts exceeding assets by $15 million. Your personal wealth will decline by:
A) $0.
B) $1 million.
C) $1.5 million.
D) $3 million.
E) your proportion of the total outstanding stock shares times $15 million.
Correct Answer:
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