Mill Creek Corporation (MCC) currently has 435,000 shares of stock outstanding that sell for $60 per share. Assuming no market imperfections or tax effects exist, what will the share price be after: a. MCC has a five-for-three stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) New share price 2$ per share b. MCC has a 15% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) New share price $ per share c. MCC has a 44.5% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) New share price per share d. MCC has a four-for-seven reverse stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) New share price 2$ per share Determine the new number of shares outstanding in parts (a) through (d). (Do not round intermediate calculations. Round the final answers to the nearest whole number.) a. New shares outstanding b. New shares outstanding c. New shares outstanding d. New shares outstanding
Mill Creek Corporation (MCC) currently has 435,000 shares of stock outstanding that sell for $60 per share. Assuming no market imperfections or tax effects exist, what will the share price be after: a. MCC has a five-for-three stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) New share price 2$ per share b. MCC has a 15% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) New share price $ per share c. MCC has a 44.5% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) New share price per share d. MCC has a four-for-seven reverse stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign in your response.) New share price 2$ per share Determine the new number of shares outstanding in parts (a) through (d). (Do not round intermediate calculations. Round the final answers to the nearest whole number.) a. New shares outstanding b. New shares outstanding c. New shares outstanding d. New shares outstanding
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Mill Creek Corporation (MCC) currently has 435,000 shares of stock outstanding that sell for $60 per share. Assuming no market
imperfections or tax effects exist, what will the share price be after:
a. MCC has a five-for-three stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $
sign in your response.)
New share price
per share
b. MCC has a 15% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $ sign
in your response.)
New share price
$
per share
c. MCC has a 44.5% stock dividend? (Do not round intermediate calculations. Round the final answer to 2 decimal places. Omit $
sign in your response.)
New share price
per share
d. MCC has a four-for-seven reverse stock split? (Do not round intermediate calculations. Round the final answer to 2 decimal
places. Omit $ sign in your response.)
New share price
$
per share
Determine the new number of shares outstanding in parts (a) through (d). (Do not round intermediate calculations. Round the final
answers to the nearest whole number.)
a. New shares outstanding
b. New shares outstanding
c. New shares outstanding
d. New shares outstanding
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