Use the Information for the Question(s)below

question 54

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 5:2 stock split,then Luther's new share price is closest to:

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

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