Question: On June 19, Note Quest Inc. instituted a 3-for-2 split. At that time Keisha owned 205 shares of that stock. The price per share was

On June 19, Note Quest Inc. instituted a 3-for-2 split. At that time Keisha owned 205 shares of that stock. The price per share was $33.99. After the split, Keisha received a check for a fractional part of a share. What was the amount of that check?

Step by Step Solution

★★★★★

3.18 Rating (154 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

Example 23 of a share so her new total is 49 of a share Example 3... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Financial Algebra Advanced Algebra Questions!

The price per share of your all-equity firm is $30, and there are 2M shares outstanding. Suppose that your firm issues $20M worth of debt. The debt has a face value of $20M, a coupon rate of 5...

The following frequency distribution shows the price per share of the 30 companies in the Dow Jones Industrial Average (Barron's, February 2, 2009). a. Compute the mean price per share and the...

The following frequency distribution shows the price per share for a sample of 30 companies listed on the New York Stock Exchange. Price per Share Frequency $20-29 7 $30-39 4 $40-49 6 $50-59 4...

QUIZ 12-3 (Version 2.3) Requirements: You are financial analyst working for Warren Buffett. Warren Buffett is interested in investing air transportation companies and has shortlisted Fedex and UPS...

Data Analysis Question: Requirements: You are financial analyst working for Warren Buffett. Warren Buffett is interested in investing air transportation companies and has shortlisted Fedex and UPS...

Please read the case attached below the question. Understand how the two capitalization tables below were built. Answer the following: Why are there 366,667 shares for the angel group in the Top Gun...

Utilizing resoorces, complete a risk audit of Bank of Americas project to acquire Merrill Lynch. Ensure you address all 10 critical success factors. From the evidence of your audit, would you advise...

NEED THIS ASAP PLEASE AND THANK YOU IN ADVANCE. HAVE A NICE DAY! The Battle for Value, 2004: FedEx Corp. vs. United Parcel Service, Inc. FedEx will produce superior financial returns for shareoners...

I need help from a Financial expert who is very familiar with exchange rate exposure & payout policy.I will adjust the price as you suggest. For some reason I am not able to do it here. Please be...

I need help the questions below based on the attached Case Study. Part 1: Case Report Summary A.Summary Part 2: Case Report Questions B.What is going on at CPK? What decisions does Susan Collyns...

If your company purchases an annuity that will pay $50,000/year for 10 years ata 11% discount rate, what is the value of the annuity on the purchase date if the first annuity payment is made on the...

a. Compute SST, SSTR, and SSE by using the computing formulas given in Formula 13.1 b. Compare your results in part (a) for SSTR and SSE with those in Exercises 13.2413.29, where you employed the...

Question 4 It is broadly accepted that the minimum number of stocks needed for a diversified portfolio is how many? 3 0 1 0 1 0 0 1 5

3. In this chapter we have discussed different forms of industrial relations. However, some countries where Canadian manufacturers outsource much work, such as Bangladesh, have no unions. Discuss the...

What is the two-sided p-value for this test? Cardiovascular Disease Left ventricular mass (LVM) is an important risk factor for subsequent cardiovascular disease. A study is proposed to assess the...

Now perform the test using the exact method and obtain a 2-sided p-value? Cardiovascular Disease Left ventricular mass (LVM) is an important risk factor for subsequent cardiovascular disease. A study...

Compare your results in Problems 9.69 and 9.70? Cardiovascular Disease Left ventricular mass (LVM) is an important risk factor for subsequent cardiovascular disease. A study is proposed to assess the...

Given a project's expected cash flows, it is easy to calculate its NPV, IRR, MIRR, payback, and discounted payback. Cash flows are estimated based on information from various sources. There is...

The Yo-Yo Corporation tries to determine the appropriate cost for retained earnings to be used in capital budgeting analysis. The firm's beta is 1.40. The rate on six-month T-bills is 3.73%, and the...

If you have a retirement saving horizon of 20 years, and you want to have saved $750,000 by the time you retire and you are planning to set aside $15,000 per year, you would need to find an...