JPix management is considering a stock split. JPix currently sells for $70 per share and a 3-for-1 stock split is contemplated. What will be the company's stock price following the stock split, assuming that the split has no effect on the total market value of JPix's equity

$23

Explanation:

Calculation to determine What will be the company's stock price following the stock split, assuming that the split has no effect on the total market value of JPix's equity

P0=70, Split = 3 for 1, New P0?

P0 new= $70/(3/1)

P0 new=$70/3

P0 new= $23

Therefore What will be the company's stock price following the stock split, assuming that the split has no effect on the total market value of JPix's equity is $23

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