Meyer & Co$.$ expects its EBIT to be $$58,000$ every year forever. The firm can borrow at $9$ percent. Meyer currently has no debt, and its cost of equity is $12$ percent.

If the tax rate is $35$ percent, what is the value of the firm? $($Do not round intermediate calculations. Round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Value of the firm

$ $$

What will the value be if the company borrows $$180,000$ and uses the proceeds to repurchase shares? $($Do not round intermediate calculations. Round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Value of the firm $$