Evaluate the price of the company''s stock

Reference no: EM1310792

Evaluate the Price of the company's stock following the stock split.

Albany Motors recently completed a 3-for-1 stock split. Prior to the split, the company had 10 million shares outstanding and its stock price was $150 per share. After the split, the total market value of the company's stock equaled $1.5 billion. What was the price of the company's stock following the stock split?

a. $15

b. $45

c. $50

d. $150

e. $450

Reference no: EM1310792

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