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Question(s) / Instruction(s):

A corporation has 40,000 shares of $25 par value stock outstanding.  If the corporation issues a 3-for-1 stock split, the number of shares outstanding after the split will be?

a)            80,000 shares                                     

b)            13,333 shares                                     

c)            120,000 shares                 

d)            40,000 shares

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