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Sameday Inc is an all equity firm operating in Nova Scotia. The firm has 1,000,000 shares outstanding trading for $35 per share. Sameday is now

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Sameday Inc is an all equity firm operating in Nova Scotia. The firm has 1,000,000 shares outstanding trading for $35 per share. Sameday is now trying to determine whether they should borrow $2,000,000 and repurchase shares. The tax rate is 40% and the present value of financial distress costs with $2,000,000 in debt = $600,000. What is the market value of Sameday if they restructure? Select one: a. $35,200,000 b. $36,400,000 c. $35,600,000 0 d. $35,400,000

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