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10 October, 05:33

Yesterday, Berryman Investments was selling for $90 per share. Today, the company completed a 7-for-2 stock split. If the total market value was unchanged by the split, what is the price of the stock today? (Do not include the $ sign in your answer).

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  1. 10 October, 06:25
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    25.71

    Explanation:

    For every two shares held in the past, the investor gets seven. Thus, for every $180 worth of shares ($90 x 2), an investor gets seven, thus $180/7 = $25.714 (approx).
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