Robinson's has 42,000 shares of stock outstanding with a par value of $1 per share and a market price of $42 a share. The balance sheet shows $42,000 in the common stock account, $490,000 in the paid in surplus account, and $480,000 in the retained earnings account. The firm just announced a 3-for-1 stock split. How many shares of stock will be outstanding after the split?
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