Northeast Tires announces a reverse split. The company will consolidate outstanding shares through a 1- 5 split. That is, every 5 shares you currently own will be consolidated into 1 share. The current price of the stock is $2.50 per share. What will the after-share price be? If you own 10,000 shares, how many will you have after the reverse split, and what will be your wealth in stock after the split?
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