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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