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Grullon Co. is considering a 7-for-3 stock split. The current stock price is $67.50 per share, and the firm believes that its total market value would increase by 5% as a result of the improved liquidity that should follow the split. What is the stock's expected price following the split?
a)$30.38b)$27.64c)$23.39d)$37.67e)$32.50
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