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Type or paste question here Glendale, Inc. has 50,000 shares of $28 par value stock...

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Accounting

Type or paste question here

Glendale, Inc. has 50,000 shares of $28 par value stock outstanding that has a current market value of $160. If the corporation issues a 4-for-1 stock split, the market value of the stock will fall to approximately:

a.

$40
b.

$640
c.

$7
d.

$112

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