Parcel be after the stock dividend goes into effect

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US Parcel Inc has 6100 shares of stock outstanding and a current stock price of $12.00 per share. The company has no debt. The company is currently short on cash and announces that instead of a cash dividend they will pay the following stock dividend to all shareholders: one new share of stock for each 8 shares held. What will the new price per share if US Parcel be after the stock dividend goes into effect?

$_________

Reference no: EM13972532

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