Question: On June 5, CIGNA instituted a 3-for-1 stock split. Before the split, CIGNA had 200 million shares with a price of $168 per share. a.

On June 5, CIGNA instituted a 3-for-1 stock split. Before the split, CIGNA had 200 million shares with a price of $168 per share.
a. How many shares were outstanding after the split?
b. What was the post-split price per share?
c. Show that this split was a monetary non-event for the corporation.

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