A firm is considering a project that will generate perpetual

after$-$tax cash flows of $$15,500$ per year beginning next year. The

project has the same risk as the firm$$s overall operations and must

be financed externally. Equity flotation costs $14$ percent and debt

issues cost $5$ percent on an after$-$tax basis. The firm$$s D$/$E ratio

is $0\mathrm{.}7.$ What is the most the firm can pay for the project and still

earn its required return? $($Do not round intermediate calculations.

Round your final answer to the nearest whole dollar.$)$ Maximum the

firm can pay c