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Stock split

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Howard Contracting recently completed a 3-for-1 stock split. Prior to the split, its stock price was $150 per share. the firm's total market value was unchanged by the split. What was the price of the company's stock following the stock split?

a)$50
b) $60
c) $90
d) $120

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Solution Summary

The solution explains how to determine the share price after a stock split.

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In a 3 for 1 stock split, 3 new shares are given for each share ...

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