Frederick & Co. expects its EBIT to be $95,000 every year forever. The firm can borrow at 8 percent. Frederick currently has no debt, and its cost of equity is 21 percent. If the tax rate is 34 percent, the value of the firm is $. The value will be $ if Frederick borrows $58,000 and uses the proceeds to repurchase shares. (Do not include the dollar signs ($). Round your answers to 2 decimal places. (e.g., 32.16))