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What is the market price of the shares after the stock dividend if the market reacts as expected? (Round answer to 2 decim places, e.g. 15.25.) Market value per share after stock dividend $

What is the market price of the shares after the stock dividend if the market reacts as expected? (Round answer to 2 decim places, e.g. 15.25.) Market value per share after stock dividend $

Essentials Of Investments
Essentials Of Investments
11th Edition
ISBN:9781260013924
Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.
Chapter1: Investments: Background And Issues
Section: Chapter Questions
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On October 1, 2020, the board of directors of Tecumseh Corporation declared a 30% stock dividend. On the declaration date, there were 53,500 common shares issued and outstanding. The fair market value of the shares on October 1, 2020, was $130 per share. The stock dividend was distributed on October 31, 2020, to shareholders of record on October 15, 2020. What is the market price of the shares after the stock dividend if the market reacts as expected? (Round answer to 2 decimal places, e.g. 15.25.) Market value per share after stock dividend $
Transcribed Image Text:On October 1, 2020, the board of directors of Tecumseh Corporation declared a 30% stock dividend. On the declaration date, there were 53,500 common shares issued and outstanding. The fair market value of the shares on October 1, 2020, was $130 per share. The stock dividend was distributed on October 31, 2020, to shareholders of record on October 15, 2020. What is the market price of the shares after the stock dividend if the market reacts as expected? (Round answer to 2 decimal places, e.g. 15.25.) Market value per share after stock dividend $
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