Market Capitalization Calculation of ABC Corporation

ABC Corporation is considering the purchase of a new piece of equipment to enhance production efficiency. To assess the feasibility of this investment, the management team decides to examine the company's market capitalization. ABC Corporation has 1 million shares outstanding, and the current market price per share is $20. Based on this information, the management wants to estimate the company's total market value.

Which of the following represents the correct calculation of ABC Corporation's market capitalization?