Grullon Co. is considering a 7-for-3 stock split. The current stock price is $67.50 per share, and the firm believes that its total market value would increase by 5% as a result of the improved liquidity that should follow the split. What is the stock's expected price following the split?
a)$30.38
b)$27.64
c)$23.39
d)$37.67
e)$32.50