What would be the adjusted market price of the stock

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Question: The Gallery has 2,500,000 shares and 2,500,000 warrants outstanding. One new share can be purchased for every 5 warrant plus $100 per new share. The stock is currently selling for $105 per share. Assume all of the warrants are exercised immediately.

What would be the adjusted market price of the stock? (Do not round your intermediate calculations. Round only your final answer up to 2 decimal places, if necessary. Note: Your final answer must be in dollars without the $ sign at the beginning)

Reference no: EM133326808

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