An investor owns 300 shares of stock currently selling for $70 per share. After a 3-for-2...
An investor owns 300 shares of stock currently selling for $70 per share. After a 3-for-2 stock split, the investor will have:
Multiple Choice
200 shares selling for $93.10 each.
200 shares selling for $105.00 each.
450 shares selling for $46.67 each.
450 shares selling for $93.10 each.
Homework Answers
3 for 2 stock split implies , 3 stocks for every 2 stocks
number of new stocks
= 300 * 3/2
= 450 shares
new stock price = 300 * 70/450
= 46.67
hence choose 450 shares selling for $46.67 each.
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