Question 2Suppose you own 5% of Coastal Corporation's 400,000 outstanding common shares. The stock was trading for$165 per share before Coastal executives announced a 3-for-2 stock split. After the split, you will ownshares worthper share.30,000; $11022,500; $110O 10,000; $165O 30,000; $1651 ptsO 15,000; $110

Total Shares = 400,000Shares held = 5% * Total Shares = 5% *400,000 = 20,000 sharesShare price =…

Answered: Suppose you own 5% of Coastal…

EBK CFIN

6th Edition

ISBN:9781337671743

Author:BESLEY

Publisher:BESLEY

Chapter2: Analysis Of Financial Statements

Section: Chapter Questions

Problem 4PROB

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Suppose you own 5% of Coastal Corporation's 400,000 outstanding common shares. The stock was trading for $165 per share before Coastal executives announced a 3-for-2 stock split. After the split, you will own shares worth per share.