Multiple Choice
Albany Motors recently completed a 3-for-1 stock split. Prior to the split, the company had 10 million shares outstanding and its stock price was $150 per share. After the split, the total market value of the company's stock equaled $1.5 billion. What was the price of the company's stock following the stock split?
A) $ 15
B) $ 45
C) $ 50
D) $150
E) $450
Correct Answer:
Verified
Correct Answer:
Verified
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