The current stock price of Ruff Co. is $60 and you own 500 shares of the stock. If the company splits its stock 3-for-1, your position after the split will be:
a. You will have 1,500 shares of stock, and the stock will trade at or near $180 a share.
b. You will have 1,500 shares of stock, and the stock will trade at or near $20 a share.
c. You will have 500 shares of stock, and the stock will trade at or near $60 a share.
d. You will have 500 shares of stock, and the stock will trade at or near $20 a share.
e. none of above