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led: Final Exam i

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ABC, Inc., has $32,050$ shares of stock outstanding with a par value of $$1$ per share. The market value is $$12$ per share. The balance sheet shows $$88,050$ in the capital in excess of par account, $$32,050$ in the common stock account, and $$149,950$ in the retained earnings account. The firm just announced a stock dividend of $12$ percent. What will the market price per share be after the dividend?

Multiple Choice

$$11\mathrm{.}71$

$$12\mathrm{.}00$

$$10\mathrm{.}71$

$$12\mathrm{.}61$