Question: 7 . Murphy's, Incorporated, has 3 1 , 9 5 0 shares of stock outstanding with a par value of $ 1 per share. The

7.Murphy's, Incorporated, has 31,950 shares of stock outstanding with a par value of $1 per share. The market value is $10 per share. The balance sheet shows $87,850 in the capital in excess of par account, $31,950 in the common stock account, and $147,950 in the retained earnings account. The firm just announced a stock dividend of 14 percent. What will the market price per share be after the dividend?

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