Taunton's is an all-equity firm that has 155,500 shares of stock outstanding. The CFO is considering borrowing $287,000 at 7 percent interest to repurchase 24,500 shares. Ignoring taxes, what is the value of the firm?
a- 1,821,571
b- 1,908,313
c- 2,081,796
d-2,241,934
e- 2,354,031
