Ramon's Has 21,000 Shares of Stock Outstanding with a Par

question 302

Multiple Choice

Ramon's has 21,000 shares of stock outstanding with a par value of $1.00 per share and a market price of $27 a share. The firm just announced a 5-for-3 stock split. How many shares of stock will be outstanding after the split?

• A) 12,600 shares
• B) 21,000 shares
• C) 27,000 shares
• D) 35,000 shares
• E) 42,400 shares

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