a-company-with-400000-shares-at-a-par-value-of-080-and-a-market-price-of-35-decl

Question

A company with 400,000 shares at a par value of $$0.80 and a market price of 35 $$declares a 3 for 2 stock split. What are the new shares outstanding, new par value, and new market price?

Accepted Answer

600,000 shares, $$0.53 par value, 23.33 $$market price

Answer

500,000 shares, $$0.60 par value, 28 $$market price

Answer

400,000 shares, $$0.80 par value, 35 $$market price

Answer

300,000 shares, $$1.20 par value, 52.50 $$market price

A company with 400,000 shares at a par value of \$0.80 and a market price of \$35 declares a 3 for 2 stock split. What are the new shares outstanding, new par value, and new market price?