The assets of Uptown Stores are currently worth $3,100. These assets are expected to be worth either $2,350 or $3,300 one year from now. The company has a pure discount bond outstanding with a $2,900 face value and a maturity date of one year. The risk-free rate is 5 percent. What is the value of the equity in this firm?

$447.12

$362.91

$263.71

$347.92

$847.12