Multiple Choice
Ross-Jordan Financial has suffered losses in recent years,and its stock currently sells for only $0.60 per share.Management wants to use a reverse split to get the price up to a more "reasonable" level,which it thinks is $12 per share.How many of the old shares must be given up for one new share to achieve the $12 price,assuming this transaction has no effect on total market value?
A) 18.00
B) 20.80
C) 16.20
D) 20.00
E) 15.60
Correct Answer:
Verified
Correct Answer:
Verified
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