Pewter & Glass is an all equity firm that has 70,000 shares of stock outstanding. The company is in the process of borrowing $300,000 at 9 percent interest to repurchase 15,000 shares of the outstanding stock. What is the value of this firm if you ignore taxes?

A) $1,400,000

B ) $450,000

C) $300,000

D) $70,000

E) None of these