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Evaluate the price of the companys stocknbspfollowing the

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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: EM13355749

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