Nelson Farms has 6,500 shares of stock outstanding,with a market value of $13.30 a share,and $31,000 of long-term debt,bearing an interest rate of 7.1 percent.Current assets consist of $1,600 in cash,$15,700 in accounts receivable,and $42,900 in inventory.Accounts payable are $11,300.What is the firm's enterprise value?
A) $121,600
B) $115,850
C) $157,600
D) $184,250
E) $117,450
Correct Answer:
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