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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