Wood Cabinet's Is an All-Equity Firm with 180,000 Shares of Stock

Wood Cabinet's is an all-equity firm with 180,000 shares of stock outstanding that sell for $42 per share.The current net income is $320,400.An expansion project will cost $1.26 million.Assume the price-earnings ratio remains constant.By what amount must the new project increase the net income for the stock price to remain at $42?

A) $51,300
B) $57,600
C) $59,700
D) $62,100
E) $53,400