on january 19th, beard corp (brd) instituted a 5 - for - 3 stock split. before the split, the market share…

on january 19th, beard corp (brd) instituted a 5 - for - 3 stock split. before the split, the market share price was $23.45 per share and the corporation had 759360 shares outstanding. what was the pre - split market cap for beard corp? (2 decimals)

on january 19th, beard corp (brd) instituted a 5 - for - 3 stock split. before the split, the market share price was $23.45 per share and the corporation had 759360 shares outstanding. what was the pre - split market cap for beard corp? (2 decimals)

Answer

Explanation:

Step1: Recall market - cap formula

Market cap = Share price × Number of shares outstanding

Step2: Identify given values

Share price = $23.45, Number of shares outstanding = 759360

Step3: Calculate market cap

Market cap = $23.45\times759360$ Market cap = $17807992$

Answer:

$17807992.00$