Question: Toombs Media Corp. recently declared a 7-for-2 stock split. The firm currently has 570,000 shares of stock outstanding. Prior to the split, the stock sold

Toombs Media Corp. recently declared a 7-for-2 stock split. The firm currently has 570,000 shares of stock outstanding. Prior to the split, the stock sold for $80 per share. If the firm's total market value is unchanged by the split, what will the stock price be following the split? Determine new number of shares outstanding after the split.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Finance Questions!

Mid-State Bank Corp recently declared a 7-for-2 stock split. Prior to the split, the stock sold for $80 per share and had 10 million shares outstanding. What will the stock price be following the...

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...

QUESTION 18 4 points Save Answer Toombs Media Corp. recently completed a 3-for-1 stock split. Prior to the split, its stock sold for $80 per share. The firm's total market value was unchanged by the...

Mid-State BankCorp recently declared a 7-for-2 stock split. Prior to the split, the stock sold for $80 per share. If the firm's total market value is unchanged by the split, what will the stock price...

19. The federal government sometimes taxes dividends and capital gains at different rates. Other things held constant, an decrease in the tax rate on dividends relative to that on capital gains would...

Name: 28. Which of the following statements about dividend policies is CORRECT? a One key advantage of the residual dividend model is that it enables a company to b. The a stable dividend policy...

3. Golden Gate Corp.'s projected net income is $180 million, its target capital structure is 20% debt and 80% equity, and its target dividend payout ratio is 25%. Golden Gate has more positive NPV...

Attached is Week 8- Final Quiz. Please help me get the answersthis test. Quiz -92398889151281 399231 2569936 1 214770 0 false Note: It is recommended that you save your response as you complete each...

B Financial recently declared a 2-for-1 stock split. Prior to the split, the stock sold for $80 per share. If the firm's total market value is unchanged by the split, what will the stock price be...

(a) Toombs Media Corp. recently completed a 1-for-25 reverse stock split. Prior to the reverse split, its stock sold for $2 per share. The firm's total market value is anticipated to decline by 10%...

The spatial part of the Robertson-Walker metric is ds = a (1) | dr. 0 d6] +r do2+r sin 0 a (a) For positive k, what is the allowed range of the r coordinate? Define a new coordinate by the...

Clinical Application 31.3 Mr. Hobbs also complains of a productive cough. He has been taking chlorpheniramine to treat it. What advice should the nurse give to him with regard to the appropriate...

What feature is shred by both Roth IRA and Roth 4 0 1 k plans

Add "Viggo Mortenslet cast = new Map ( ) ;en " to the cast as the key, with value "Aragorn".