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Determine the number of common shares

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Question - The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $340 per share. To reduce the market price of common stock, Yeates declared a 5-for-1 stock split for the 300,000 outstanding shares of its $10 par value common stock.

Determine the number of common shares outstanding and the par value after the split.

Reference no: EM132170964

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