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Rocky Ground Camping Supply Inc. is an all-equity firm, with 200,000 shares of s...

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Rocky Ground Camping Supply Inc. is an all-equity firm, with 200,000 shares of stock outstanding each trading at a market value of $15. In addition, on the balance sheet there is common stock of $1,950,000 and retained earnings of $1,450,000. Suppose the firm declares a 20% stock dividend. What is the stock's new price per share? Assume there are no taxes or transaction costs.

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