What would chester corporation's market capitalization be if the current price rose 10%? select: 1save answer $84.9 million $77.
2 million $86.0 million $78.2 million?
1 answer:
Answer:
market capitalization = current stock price x total stocks outstanding.
Since we are not given neither the total number of shares outstanding or current stock price, we can use another question as an example.
In the other question, the total number of outstanding shares was 3,225,987 and the current stock price is $20.76. So the current market cap = 3,225,987 x $20.76 = $66,971,490
If the stock price increases by 10% (to $22.836), then Chester's market cap = 3,225,987 x $22.836 = $73,668,639 or $73.7 million.
You can follow the example to determine the market cap in your question.
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