Mercury Homes just declared a 4-for-3 stock split.Which of the following occurred as a result of this split?
I.number of shares outstanding increased by 1/3
II.number of shares outstanding decreased by 1/4
III.price per share increased by 1/3
IV.price per share decreased by 1/4
A) I and III only
B) I only
C) II and IV only
D) II and III only
E) I and IV only
Correct Answer:
Verified
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