Toombs Media Corp.recently completed a 3-for-1 stock split.Prior to the split,its stock sold for $160 per share.The firm's total market value was unchanged by the split.Other things held constant,what is the best estimate of the stock's post-split price?
A) $55.47
B) $50.67
C) $40.00
D) $41.60
E) $53.33

Question

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The Answer of Toombs Media Corp.recently completed a 3-for-1 stock split.Prior to the split,its stock sold for $160 per share.The firm's total market value was unchanged by the split.Other things held constant,what is the best estimate of the stock's post-split price?
A) $55.47
B) $50.67
C) $40.00
D) $41.60
E) $53.33