Question: Cede & Co. expects its EBIT to be $76,469 every year forever. The firm can borrow at 11%. Cede currently has no debt, and its

Cede & Co. expects its EBIT to be $76,469 every year forever. The firm can borrow at 11%. Cede currently has no debt, and its cost of equity is 25%. The tax rate is 31%.

What is the value of the unlevered firm? (Round answer to 2 decimal places. Do not round intermediate calculations)

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