Question: Toombs media corp. recently completed a 3-for-1 stock split. Prior to the split its stock sold for $150 per share and there was 3,100,000 shares
Toombs media corp. recently completed a 3-for-1 stock split. Prior to the split its stock sold for $150 per share and there was 3,100,000 shares outstanding. If the total market value was unchanged by the split, what was the price and the total number of shares of the stock following the split?
A) $66.67; 6,333,333.33
B) $72; 5,333,333.33
C) $102; 6,333,333.33
D) $64.29; 7,233,333.33
E) $72.86; $8,866,666.67
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