The followings are partial reformulated statement of financial position for an industrial firm that you are required to value. Reformulated SFP. Year 20X1 and 20X2 20X2 20X1 NOA 900 850 NFO 300 350 Common Equity 600 500 Value the equity at the end of year 20x2 under a forecast that (1) Returns on net operating assets in the future will be the same as 19%. (11) Sales are expected to grow at 4% per year in the future. (111) Asset turnovers in the future will be the same. (iv) The required rate of return for operations is 9%. a. 2,400 O b. 2.600 O c. 2.500 O d. 2.300