Mac's has 28,600,000 shares oustanding that currently trade at $56. (1). If Mac's does a 7-for-1...
Mac's has 28,600,000 shares oustanding that currently trade at $56.
(1). If Mac's does a 7-for-1 stock split, what will be the new share price?
Homework Answers
Answer and Explanation:
MAC's which has 28,600,000 issued shares priced at $56 per share.
Market capitalization of 28,600,000 × $56 = $1601600000.
If the company splits its stock 7-for-1, there are 200200000 shares of stock and each shareholder holds 7 times of shares.
The price of each share is adjusted to = $1601600000 /200200000 = $8.
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