The Turtle Cave currently has 160,000 shares of stock outstanding that sell for $60 per share. Assume no market imperfections or tax effects exist. What will the new share price be if the firm declares a 15 percent stock dividend?
A) $48.72
B) $52.17
C) $60.00
D) $64.50
E) $69.00
Correct Answer:
Verified
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