A.CED.A Garnetta owned 2400 shares of Metropolitan Corporation at a price of $45.50. The stock split 4-for-3. How was Garnetta f

Question

Andreas93 [3]

3 years ago

11

A.CED.A Garnetta owned 2400 shares of Metropolitan Corporation at a price of $45.50. The stock split 4-for-3. How was Garnetta f

inancially affected by the split

Mathematics

1 answer:

shtirl [24] · Answer 1 · 2022-08-16T12:05:46+03:00

Garnetta will have 3,200 shares worth $ 34,125 each.

Given that Garnetta owned 2400 shares of Metropolitan Corporation at a price of $ 45.50, and the stock split 4-for-3, to determine how Garnetta was financially affected by the split the following calculation must be performed:

3 = 2400
4 = X
4 x 2400/3 = X
9600/3 = X
3200 = X
(2400 x 45.50) / 3200 = X
109200/3200 = X
34.125 = X

Therefore, Garnetta will have 3,200 shares worth $ 34,125 each.

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