Loiselle Graphics Recently Announced a 3-For-1 Stock Split

Multiple Choice

Loiselle Graphics recently announced a 3-for-1 stock split. Prior to the split, the company's stock was trading at $90 per share. The split had no effect on the wealth of the company's investors. What will be the new stock price?

A) $270
B) $ 45
C) $180
D) $ 60
E) $ 30