Gorton Corporation has 30,000 shares of $10 par value common stock outstanding when it announces a 2-for-1 stock split. Before the split, the stock had a market price of $120 per share.

After the split, how many shares of stock will be outstanding? Common Stock Outstanding?
What will be the approximate market price per share?

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  1. 60,000 shares
    $60 per share

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  2. o=i dont know

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