Noelle Owns 12 Percent of the Toy Factory

Noelle owns 12 percent of The Toy Factory. She has decided to retire and wants to sell all of her shares in this closely held, all-equity firm. The other shareholders have agreed to have the company borrow the $248,000 needed to repurchase her shares of stock. What is the total market value of the company? Ignore taxes.

A) $2,066,667
B) $2,489,111
C) $2,608,515
D) $2,414,141
E) $2,333,333