Based on the previous worth of the stock and the value lost, the new value of the LMNOP stock is $75.14.
What is the new value of the LMNOP stock?
The value of $85 lost approximately 11.6% of its value.
The new value can be found as:
= Previous stock price x ( 1 - percentage loss)
Solving gives:
= 85 x (1 - 11.6%
= 85 x 88.4%
= $75.14.
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