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A.CED.A Garnetta owned 2400 shares of Metropolitan Corporation at a price of $45.50. The stock split 4-for-3. How was Garnetta financially affected by the split

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francocanacari

Garnetta will have 3,200 shares worth $ 34,125 each.

Given that Garnetta owned 2400 shares of Metropolitan Corporation at a price of $ 45.50, and the stock split 4-for-3, to determine how Garnetta was financially affected by the split the following calculation must be performed:

  • 3 = 2400
  • 4 = X
  • 4 x 2400/3 = X
  • 9600/3 = X
  • 3200 = X  
  • (2400 x 45.50) / 3200 = X
  • 109200/3200 = X
  • 34.125 = X

Therefore, Garnetta will have 3,200 shares worth $ 34,125 each.

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