Auto Supply has 54,200 shares of stock outstanding with a par value of $1 per share and a market value of $6.20 a share.The company just announced a two-for-nine reverse stock split.What will be the par value per share after the split?
A) $) 22
B) $) 44
C) $1.00
D) $2.50
E) $4.50
Correct Answer:
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