Loiselle Graphics recently announced a 3-for-1 stock split. Prior to the split, the company's stock was trading at $90 per share. The splithad no effect on the wealth of the company's investors. What will be the new stock price? $180 $30 $270 $45 $60

New stock price = Initial stock price/Split ratio = 90/3…

Answered: Loiselle Graphics recently announced a…

EBK CONTEMPORARY FINANCIAL MANAGEMENT

14th Edition

ISBN:9781337514835

Author:MOYER

Publisher:MOYER

Chapter15: Dividend Policy

Section: Chapter Questions

Problem 11P

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Loiselle Graphics recently announced a 3-for-1 stock split. Prior to the split, the company's stock was trading at $90 per share. The split had no effect on the wealth of the company's investors. What will be the new stock price? $180 $30 $270 $45 $60