Westover Industries Has 600,000 Shares Outstanding with a Market Value

Multiple Choice

Westover Industries has 600,000 shares outstanding with a market value of $27 a share.Each share has a .2 warrant attached.One warrant plus $25 can be exchanged for one new share of stock.What will be the value of the firm if all the warrants are exercised? Assume all else held constant.

A) $20.9 million
B) $19.2 million
C) $18.4 million
D) $18.9 million
E) $20.2 million