Question

Jim owns stock in Gamma Vision Inc. That company announces that it will split its stock with three new shares per two old shares. Jim currently owns 400 shares valued at $25 each. How many shares will he have after the split and how much will each be worth?




Select the best answer from the choices provided.



600 shares worth $37.50 each



400 shares worth $16.67 each



600 shares worth $16.67 each



200 shares worth $37.50 each

Answer 1

c