Brady Inherited 1,000 Shares of LNM, Inc

Brady inherited 1,000 shares of LNM, Inc. The stock is selling in the market for $177 per share and the company is contemplating a 2-for-6 stock split. Given this information, which of the following statements is correct?

A) Brady will have 3,000 shares and stock's price will be near $531.
B) Brady will have 3,000 shares and stock's price will be near $59.
C) Brady will have 333.33 shares and stock's price will be near $531.
D) Brady will have 333.33 shares and stock's price will be near $59.Step 1: Number of shares = 1,000/6 * 2 = 333.33;