Question: Abbott Corporation splits its common stock 4 for 1 when the market price is $40 per share. Prior to the split, Abbott had 50,000 shares

  • Abbott Corporation splits its common stock 4 for 1 when the market price is $40 per share.  Prior to the split, Abbott had 50,000 shares of $10 par value common stock issues and outstanding.  After the split, Calculate the par value of the stock.

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