Frontier Markets Is an All Equity Firm That Has 35,000

Frontier Markets is an all equity firm that has 35,000 shares of stock outstanding. The company has decided to borrow the $35,000 that is needed to repurchase 1,000 shares of stock from the estate of a deceased shareholder. What is the total value of Frontier Markets if you ignore taxes?

A) $1.207 million
B) $1.225 million
C) $1.250 million
D) $1.350 million
E) $1.375 million