Winston's Super Market is currently an all equity firm that has 120,000 shares of stock outstanding at a market price of $34.50 a share. The current cost of equity is 11% and the tax rate is 35%. Winston's is considering adding $1.6 million of debt with a coupon rate of 7.5% to the capital structure. The debt will be sold at par value. What is the levered value of the equity? A) $3.9 million B) $3.1 million C) $4.3 million D) $2.8 million E) $4.7 million