Sherman Corporation declared a 3-for-1 stock split on 8,000 shares of $7.50 par value common stock. If the market price of the stock had been $30 a share before the split, the par value, number of shares, and approximate market value after the split would be

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In a 3-for-1 stock split, par value and market value will be 1/3 of what they were prior to the split and number of shares will be three times what it was.

Sherman Corporation Declared a 3-For-1 Stock Split on 8,000 Shares