Simmons Mineral Operations, Inc., (SMO) currently has 450,000 shares of stock outstanding that sell for $90 per share. Assuming no market imperfections or tax effects exist, what will the share price be after:
a. SMO has a four-for-three stock split? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
New share price $_____
b. SMO has a 10 percent stock dividend? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
New share price $_______
c. SMO has a 47.5 percent stock dividend? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
New share price $______
d. SMO has a four-for-seven reverse stock split? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)
New share price $_______
e. Determine the new number of shares outstanding in parts (a) through (d). (Do not round intermediate calculations and round your answer to the nearest whole dollar amount, e.g., 32.)
a. New shares outstanding _______
b. New shares outstanding _________
c. New shares outstanding_______
d. New shares outstanding________