The Jean Outlet Is an All Equity Firm That Has

Multiple Choice

The Jean Outlet is an all equity firm that has 146,000 shares of stock outstanding.The company has decided to borrow the $1.1 million to repurchase 7,500 shares of its stock from the estate of a deceased shareholder.What is the total value of the firm if you ignore taxes?

A) $18,387,702
B) $18,500,000
C) $19,666,667
D) $21,413,333
E) $22,293,333