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(Solution Download) Murphy's, Inc. has 32,550 shares of stock outstanding with a par value of $1.00 per share. The...


 

 

 

 

 

 

 

Murphy's, Inc. has 32,550 shares of stock outstanding with a par

 

value of $1.00 per share. The market value is $12.00 per share. The

 

balance sheet shows $89,050.00 in the capital in excess of par

 

account, $32,550.00 in the common stock account, and $159,950 in

 

the retained earnings account. The firm just announced a 14 percent

 

(small) stock dividend. What will the market price per share be

 

after the dividend?

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$10.53
$11.40
$11.53
$12.40
$12.00

 


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