par value of stock
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On July 1, Alto Co. split its common stock 5 for 1 when the fair value was $100 per share. Prior to the split, Alto had 10,000 shares of $10 par value common stock issued and outstanding. After the split, the par value of the stock
A. Remained at $10.
B. Was reduced to $8.
C. Was reduced to $5.
D. Was reduced to $2.
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