Question - Assume that when you were in high school you saved $1000 to invest for your college education. You purchased 200 shares of Smiley Inc., a small but profitable company. Over the three years that you have owned the stock, the corporation's board of directors have taken the following actions:
1. declared a 2-for-1 stock split
2. declared a 20 percent stock dividend
3. declared a 3-for-1 stock split
The current price of the stock is $12
Required - Calculate the current number of shares and the market value of your investment.