Outer Wear Has 12,000 Shares of Stock Outstanding

Multiple Choice

Outer Wear has 12,000 shares of stock outstanding.Each share has a .5 warrant attached.These warrants expire today.The market value of the firm's assets net of its debt is $192,000.One new share can be obtained for one warrant plus $18.Assuming all else held constant,what would you expect the market price per share to be tomorrow morning when the stock market opens?

A) $16.67
B) $15.33
C) $16.00
D) $18.00
E) $17.50