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Par value of stock
Abbott Corporation splits its common stock 3 for 1, when the market value is $90 per share. Prior to the split, Abbott had 100,000 shares of $21 par value common stock isssued and outstanding. After the split, the par value of the stock
A. is increased to $42 per share B. there is no change to par value. C. is reduced to $14 per share. D. is reduced to $7 per share. My answer is A, but I'm not really sure how to do this |
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