You are evaluating the firm's financial performance based on the following data. Balance sheet items:

You are evaluating the firm's financial performance based on the following data.

Balance sheet items:

   Marketable securities=100

   Non-operating long-term assets =200

   Cash=100

   Accounts receivable=1,000

   Inventory=1,000

   Operating long-term assets (net of depreciation) = 13,800

   Accounts payable=880

   Accrued taxes=200

   Short-term debt=120

   Long-term debt=5,000

   (1,000 par value, 5 bonds)

   Equity=10,000

   (10 book value per share, 1,000 shares)

Market values:

Market value of the marketable securities =300

Market value of non-operating long-term assets =220

Market value of short-term debt: 120

Common stock:

Market price per share: 12.00

Long-term bonds:

Market price per bond: 1,000

What is the firm's market value of operations?

Select one:

a. $15,700

b. $16,300

c. $16,600

d. $16,000