Question: A company declared a 5 for 3 stock split when the stock was selling at $250 per share. Prior to the split, the firm had

A company declared a 5 for 3 stock split when the stock was selling at $250 per share. Prior to the split, the firm had $50 million in common stock with a $6 par. Which of the following answers would be correct after the split?

A. Common stock = $83.35 mil Stock price = $417

B. Par value = $3.60 Stock price = $150

C. Common Stock = $30 mil Stock price = $150

D. Par value = $10 Stock price = $41.70

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