Mid-State BankCorp Recently Declared a 7-For-2 Stock Split

question 12

Multiple Choice

Mid-State BankCorp recently declared a 7-for-2 stock split.Prior to the split,the stock sold for $80 per share.If the firm's total market value is unchanged by the split,what will the stock price be following the split?

• A)$20.63
• B)$21.71
• C)$22.86
• D)$24.00
• E)$25.20