Levered, Inc., and Unlevered, Inc., are identical in every way except their capital structures. Each company expects to earn $23 million before interest per year in perpetuity, with each company distributing all its earnings as dividends. Levered's perpetual debt has a market value of $73 million and costs 8 percent per year. Levered has 2.1 million shares outstanding, currently worth $105 per share. Unlevered has no debt and 4.5 million shares outstanding, currently worth $78 per share. Neither firm pays taxes. Is Levered's stock a better buy than Unlevered's stock?