jadenrose5446 jadenrose5446

21-11-2019
Business

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The Turtle Cave currently has 160,000 shares of stock outstanding that sell for $60 per share. Assume no market imperfections or tax effects exist. What will the new share price be if the firm declares a 15 percent stock dividend?

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andromache andromache

21-11-2019

Answer:

$52.17

Explanation:

The computation of the new share price is shown below:

= Selling price of the stock × (1 ÷ 1 + stock dividend percentage)

= $60 × (1 ÷ 1 + 0.15)

= $60 × (1 ÷ 1.15)

= $60 × 0.8695

= $52.17

We simply divide the selling price of the stock with the stock dividend percentage so that the accurate share price can come.

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