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3. Over the years, Janjigian Corporation's stockholders have provided S18,000 of capital, part when they purchased new issues of stock and part when they allowed

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3. Over the years, Janjigian Corporation's stockholders have provided S18,000 of capital, part when they purchased new issues of stock and part when they allowed management to retain some of the firm's earnings. The firm now has 400 shares of common stock outstanding, and it sells at a price of S50.00 per share. How much value has Janiigian's management added to stockholder wealth over the years, i.e., what is Janiigian's MVA? a. S3,000 b. $2,500 c. S2,000 d. S1,500

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