Toombs Media Corp. recently completed a 3-for-1 stock split. Prior to the split, its stock sold for $170 per share. The firm's total market value was unchanged by the split. Other things held constant, what is the best estimate of the stock's post-split price?
A. $57.23
B. $65.73
C. $64.60
D. $63.47
E. $56.67
Answer: E
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