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Find the number of common shares outstanding

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The market value of Yeates Corporation's common stock had become excessively high. The stock was currently selling for $300 per share. To reduce the market price ofthe common stock, Yeates declared a 3-for-1 stock split for the 250,000 outstanding shares of its $10 par value common stock.

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Question 1: Determine the number of common shares outstanding and the par value after the split. (Round par value answer to 2 decimal places)

Reference no: EM132497832

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