Refer to Exhibit 15

Refer to Exhibit 15.4.Now assume that AJC is considering changing from its original capital structure to a new capital structure with 50% debt and 50% equity.If it makes this change, its resulting market value would be $820, 000.What would be its new stock price per share?

A) $58
B) $59
C) $60
D) $61
E) $62