In April, Sandi sold 1,600 shares of Federal Express at $105.00 per share. In May, the stock reached a low during the Great Recession and was selling for $32.00 per share. Sandi used the proceeds from the sale and repurchased Federal Express at $32.00 per share in May. What is the value of Sandi's stock holdings in Federal Express if the shares are selling for $91.00 today?

$168,000

$51,200

$477,750

$239,000

None of these

Business Math 149