Evaluations for input

The Verbrugge Publishing Company's 2010 balance sheet and income statement are as follows (in millions of dollars): <image 1> Verbrugge and its creditors have agreed upon a voluntary reorganization plan. In this plan, each share of the $6 preferred will be exchanged for one share of$2.40 preferred with a par value of $37.50 plus one 8$75. The $10.50 preferred issue will be retired with cash. What is the income available to common shareholders in the proposed recapitalization?

(A) $4 million

(B) $5 million

(C) $6 million

(D) $7 million

Answer with the option's letter from the given choices directly. No punctuation.