Question: The Mining Co . has 1 1 0 , 0 0 0 shares of stock outstanding. The current market value of the firm is $

The Mining Co.has 110,000shares of stock outstanding. The current market value of the firm is $5.5million. The company has retained earnings of $1.8million, paid in surplus of $2.2million, and a common stock account value of $0.11million. The company is planning a 5-for-1stock split. What will the retained earnings account value be after the split?

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