At the beginning of Year 2 investors had invested $100,000 of common equity in Jan Corp. and expect to earn a return of 15% per year. In addition, investors expect Jan Corp, to pay out 100% of income in dividends each year. Forecasts of Jan's net income are as follows: Year 2$20,000 Year 3$18,000 Year 4$16,000 Year 5 and beyond - $15,000 Using this information, what is Jan's residual income valuation at the beginning of Year 2 ? a. 5107,274 b. $160,000 c. 5109.000 d. $157,556