Corner Mart Has 150,000 Shares of Stock Outstanding with a Par

Corner Mart has 150,000 shares of stock outstanding with a par value of $1 per share.The market value is $28.30 per share.The balance sheet shows $2,922,500 in the capital in excess of par account,$150,000 in the common stock account,and $1,322,700 in the retained earnings account.The firm just announced a 10 percent (small) stock dividend.What will the market price per share be after the dividend?

A) $27.20
B) $25.73
C) $28.30
D) $31.44
E) $31.13