Edie's has 14,500 shares of stock outstanding with a par value of $1 per share and a market value of $7.22 a share.The company just announced a 1-for-3 reverse stock split.What will be the value of the common stock account after the split?
A) $4,833
B) $18,850
C) $43,500
D) $11,154
E) $14,500
Correct Answer:
Verified
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