Downtown Deli Has 2,000 Shares of Stock Outstanding with a Par

Multiple Choice

Downtown Deli has 2,000 shares of stock outstanding with a par value of $1 per share and a market value of $26 per share.The balance sheet shows $2,000 in the common stock account,$9,500 in the capital in excess of par account,and $14,500 in the retained earnings account.The firm just announced a stock dividend of 75 percent.What is the market value per share after the dividend?

A) $36.00
B) $14.86
C) $45.50
D) $13.50
E) $12.00