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A corporation has 40,200 shares of $23 par value stock outstanding and 45,500 authorized shares....

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Accounting

A corporation has 40,200 shares of $23 par value stock outstanding and 45,500 authorized shares. If the corporation issues a 3-for-1 stock split, the number of shares outstanding after the split will be

a.40,200 shares.

b.120,600 shares.

c.10,600 shares.

d.160,800 shares.

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