Use the Information for the Question(s)below

question 69

Multiple Choice

Use the information for the question(s) below.
Luther Industries currently has 5 million shares outstanding and its stock is currently trading at $40 per share.
-Assuming Luther issues a 25% stock dividend,then Luther's new share price is closest to:

• A)$24.00.
• B)$30.00.
• C)$16.00.
• D)$32.00.

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