The common stock of Margot,Inc. is selling for $56 a share. The par value per share is $1. Currently,the firm has a total market value of $89,600. How many shares of stock will be outstanding if the firm does a 2-for-1 stock split?
A) 800 shares
B) 1,200 shares
C) 1,600 shares
D) 3,200 shares
E) 4,800 shares
Correct Answer:
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