The equity section of a firms market value balance sheet has common stock of $250,000 (par value $1); capital surplus of $145,650; and retained earnings of $624,250. The firms stock sells for $27 a share. If the firm repurchases $75,000 of stock, what will be the new market value of the firms total equity?

$999,900

$979,350

$945,900

$999,046

$949,471