The balance sheet for Pie Crust Inc., is shown here in market-value terms. There are 20,000 shares of stock outstanding.

Cash $140,000
Fixed Assets 470,000	Equity $610,000
Total $610,000	Total $610,000

The company has declared a dividend of $1.20 per share. Assume no taxes. What will the equity value be when the stock goes ex-dividend tomorrow?

Group of answer choices

$590,000

$630,000

$610,000

$586,000