Question: QUESTION 23 Tombstone Mining Corp. recently completed a 3-for-1 stock split. Prior to the split, its stock sold for $90 per share. The firm's total

QUESTION 23 Tombstone Mining Corp. recently completed a 3-for-1 stock split. Prior to the split, its stock sold for $90 per share. The firm's total market value was unchanged by the split. Other things held constant, what is the best estimate of the stock's post-split price? O a $30.00 Ob.$31.50 O c. $33.08 O d. $34.73 O e $36.47 QUESTION 24 Dodge City Corp. plans to have a capital budget of 5650,000. It wants to maintain a target capital structure of 40% debt and 60% equity, and it also wants to pay a dividend of $225,000. If the company follows the residual dividend model, how much net income must it earn to meet its investment requirements, pay the dividend, and keep the capital structure in balance? a. $584.250 O. 5615,000 O $645,750 Od5678,038 O $711,939

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