Murphy's, Incorporated, has 31,900 shares of stock outstanding with a par value of $1 per share. The market value is $14 per share. The balance sheet shows $87,750 in the capital in excess of par account, $31,900 in the common stock account, and $146,950 in the retained earnings account. The firm just announced a stock dividend of 12 percent. What will the market price per share be after the dividend?

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Murphy's, Incorporated, has 31,900 shares of stock outstanding with a par value of $1 per share. The market value is $14 per share. The balance sheet shows $87,750 in the capital in excess of par account, $31,900 in the common stock account, and $146,950 in the retained earnings account. The firm just announced a stock dividend of 12 percent. What will the market price per share be after the dividend?

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