Question: How do I solve this for the correct answer? Acme, Inc. recently completed a 5-for-3 stock split. Prior to the split, it had 1,500,000 shares
How do I solve this for the correct answer?
Acme, Inc. recently completed a 5-for-3 stock split. Prior to the split, it had 1,500,000 shares outstanding, selling for $150 per share. Calculate the post-split price and number of shares outstanding Select one: A. 2,500,000 shares selling for $90 B. 900,000 shares selling for $90 C. 2,500,000 shares selling for $150 D. 1,500,000 shares selling for $90 x E. 3,000,000 shares selling for $75 The correct answer is: 2,500,000 shares selling for $90
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