Calculate a market value of equity for the subject company given the following information:

Subject company sales = $28,000,000

Subject company net income = $4,500,000

Subject company total liabilities = $13,000,000

Subject company interest-bearing debt = $9,000,000

Median guideline company market value of invested capital = $60,000,000

Median guideline company sales = $80,000,000

	a.	$21,000,000
	b.	$28,333,000
	c.	$12,000,000
	d.	$15,000,000