Lincoln Corporation has 1,200,000 shares of common stock issued and outstanding with a $1.20 par...
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Accounting
Lincoln Corporation has 1,200,000 shares of common stock issued and outstanding with a $1.20 par value. If Lincoln declares a three-for-one stock split, how many new shares will be issued and what will the par value be?
1,000,000 shares and $1.20 par value
400,000 shares and $3.60 par value
3,000,000 shares and $3.60 par value
3,600,000 shares and $0.40 par value
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