Surf City Inc. has decided on a 20% stock dividend. If the firm currently has 900,000 shares outstanding, how many shares will be outstanding after the stock split?
A) 4,500,000 shares
B) 1,080,000 shares
C) 720,000 shares
D) 180,000 shares
Answer: B
Explanation: B) 900,000 shares × 20% = 180,000 + 900,000 = 1,080,000 shares outstanding.
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