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4 April, 01:38

A corporation has 44,904 shares of $26 par value stock outstanding that has a current market value of $238 per share. If the corporation issues a 5-for-1 stock split, determine the number of shares outstanding. Select the correct answer. 583,752 8,981 224,520 44,904

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  1. 4 April, 04:29
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    Answer: 224,520

    Explanation:

    From the question, we are told that a corporation has 44,904 shares of $26 par value stock outstanding that has a current market value of $238 per share and that the corporation issues a 5-for-1 stock split. The number of shares outstanding goes thus:

    Shares outstanding = 44,904 shares

    We are also told that the corporation issues a 5-for-1 stock split. Therefore, the new shares will be:

    = 44,904 * 5

    = 224,520 shares

    If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be 224,520.
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Home » Business » A corporation has 44,904 shares of $26 par value stock outstanding that has a current market value of $238 per share. If the corporation issues a 5-for-1 stock split, determine the number of shares outstanding. Select the correct answer.
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