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QUESTION
Red Rocks Corporation (RRC) currently has 350,000 shares of stock outstanding that sell for $90 per share. Assuming no market imperfections or tax...
Red Rocks Corporation (RRC) currently has 350,000 shares of stock outstanding that sell for $90 per share. Assuming no market imperfections or tax effects exist, what will the share price be after:a) RRC has a five-for-three stock split?b) RRC has a 15% stock dividend?c) RRC has a 42.5% stock dividend?d) RRC has a four-for-seven reverse stock split?Determine the new number of shares outstanding in parts (a) through (d).
SolutionColumn1Actualabcd Share Price905478.2663.16157.5 No of SharesMarket Capitalisation35000031500000583333.3331500000402500315000004987503150000020000031500000