Pete's Pets has 18,500 shares of stock outstanding with a par value of $1 per share and a market price of $21 a share.The firm just announced a three-for-two stock split.How many shares of stock will be outstanding after the split?
A) 12,000 shares
B) 14,000 shares
C) 27,750 shares
D) 22,250 shares
E) 29,250 shares
Correct Answer:
Verified
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