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    Jan 29, 2009, 10:02 AM
    Par value of stock after a split
    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 C

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