Nevada Corporation has 64,700 shares of $17 par stock outstanding that has a current market value of $140. If the corporation issues a 5-for-1 stock split, the number of shares outstanding will be:

77,640 shares

Explanation:

Stock split occur when new shares of a company are issued to existing shareholders in proportion to their current holdings.

The share outstanding after the stock split is the addition of the existing shares and the new share issued. For this question, this can be calculated as follows:

New shares to be issued = 64,700 : 5 = 12,940

Number of outstanding shares after stock split = 64,700 + 12,940 = 77,640 shares