The Retail Outlet Has 6,000 Shares of Stock Outstanding with a Par

The Retail Outlet has 6,000 shares of stock outstanding with a par value of $1.00 per share. The current market value of the firm is $420,000. The balance sheet shows a capital in excess of par account value of $136,000 and retained earnings of $234,000. The company just announced a 2-for-1 stock split. What will the market price per share be after the split?

A) $35
B) $40
C) $55
D) $70
E) $140