Mary A.

asked • 08/15/19

please help me with this problem. i am having so much trouble

An acquaintance of one of the authors was about to take his startup internet company public. He owned 5% of the 900,000 shares of stock that were issued when the company was first formed.

The board of directors decided to reward him by issuing additional stock so that he would then own 10% of the company. How many new shares of stock should be issued and then rewarded to him?


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