The Down Under Is an All-Equity Firm with 210,000 Shares

The Down Under is an all-equity firm with 210,000 shares of stock outstanding.The book value per share is $23,and the market value per share is $46.The current net income is $310,800.An expansion project will cost $1.1 million.Assume the price-earnings ratio remains constant.What must be the new total net income of the firm if the market price per share is to remain at $46?

A) $357,394
B) $346,191
C) $386,221
D) $359,630
E) $378,542