Question: 14. Progressive Corporation executed a 3:1 (3 for 1) common stock split on April 23, 2002. In general, why do companies split their stock 3

14. Progressive Corporation executed a 3:1 (3 for 1) common stock split on April 23, 2002. In general, why do companies split their stock 3 for 1?

A. To raise the per-share stock price

B. To lower the per-share stock price

C. To convert the shares into bonds

D. To earn cash to finance immediate business needs

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