Question: please make answer neat & clearly typed answer is better Cruz Corporation has $100 billion of debt outstanding. An otherwise identical firm has no debt

please make answer neat & clearly typed answer is better

please make answer neat & clearly typed answer is better Cruz Corporation

Cruz Corporation has $100 billion of debt outstanding. An otherwise identical firm has no debt and has a market value of $450 billion. Under the Miller model, what is Cruz's value if the federal-plus- state corporate tax rate is 28%, the effective personal tax rate on stock is 17%, and the personal tax rate on debt is 29%? Enter your answer in billions

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