Question: Cede & Co. expects its EBIT to be $77,106 every year forever. The firm can borrow at 10%. Cede currently has no debt, and its

Cede & Co. expects its EBIT to be $77,106 every year forever. The firm can borrow at 10%. Cede currently has no debt, and its cost of equity is 23%. The tax rate is 33%.

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

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