Multiple Choice
Ross-Jordan Financial has suffered losses in recent years,and its stock currently sells for only $0.50 per share.Management wants to use a reverse split to get the price up to a more "reasonable" level,which it thinks is $25 per share.How many of the old shares must be given up for one new share to achieve the $25 price,assuming this transaction has no effect on total market value?
A) 47.50
B) 49.88
C) 50.00
D) 52.50
E) 55.13
Correct Answer:
Verified
Correct Answer:
Verified
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