Auto Supply has 84,600 shares of stock outstanding with a par value of $1 per share and a market value of $6.30 a share.The company just announced a 2-for-7 reverse stock split.What will be the par value per share after the split?
A) $.29
B) $.35
C) $1.00
D) $2.90
E) $3.50
Correct Answer:
Verified
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