The Peanut Shack has 6,000 shares of stock outstanding with a par value of $1 per share. The current market value of the firm is $145,600. The company just announced a 3-for-2 stock split. What will the market price per share be after the split?
A) $12.14
B) $16.18
C) $24.27
D) $28.20
E) $36.40
Correct Answer:
Verified
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