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What the par value of the stock after the split

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Problem 1: On July 1, Alto Co. split its common stock 5-for-1 when the fair value was $100 per share. Prior to the split, Alto had 10,000 shares of $10 par value common stock issued and outstanding. After the split, the par value of the stock:

A. Remained at $10.

B. Was reduced to $8.

C. Was reduced to $5.

D. Was reduced to $2

Reference no: EM132773715

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