Blackberry Inc. has the following balance sheet (in millions). What is the market value added (MVA) if the current price of Blackberry's stock is $15 and there is 10 million shares outstanding?

Cash

$ 20

Accounts payable

$ 40

Short-term investments

30

Accruals

20

Accounts receivable

70

Notes payable

60

Inventory

40

Current liabilities

$ 120

Current assets

$160

Long-term debt

0

Net fixed assets

100

Common equity

90

Retained earnings

50

Total assets

$260

Total liab. & equity

$260

a. $150

b. $60

c. $260

d. $10