Alfonzo's Italian House has 25,000 shares of stock outstanding with a par value of $1 per share and a market price of $28 a share.The firm just announced a 5-for-3 stock split.What will the market price per share be after the split?
A) $16.80
B) $21.60
C) $28.00
D) $46.67
E) $56.00
Correct Answer:
Verified
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