Stock Split
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Fields Corporation has 20,000 shares of $10 par value common stock outstanding when it announces a 2-for-1 stock split. Before the split, the stock had a market price of $120 per share. After the split, how many shares of stock will be outstanding? What will be the approximate market price per share?
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Solution Summary
The solution explains the number of shares after a stock split and the corresponding market price of stock.
Solution Preview
Since the split is 2 for 1, it implies that for each existing shares, 2 new shares are issued. The existing shares are 20,000, ...
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