An all equity firm currently has $1,000,000$ shares outstanding with a market price of $$10.$ The firm is considering issuing $$5,204,061$ in debt into perpetuity. The firm has estimated the total costs of debt $($including bankruptcy and agency costs$)$ is equal to $$974,873.$ The current corporate tax rate TC $=30\%.$ What is the value of the firm if they issue the debt assuming the trade$-$off theory holds?