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9. The Studio is currently an all-equity firm that has 68,000 shares of stock outstanding with a market price of $36.80 a share. The current

9. The Studio is currently an all-equity firm that has 68,000 shares of stock outstanding with a market price of $36.80 a share. The current cost of equity is 11.7 percent, and the tax rate is 35 percent. What is the value of the firm?

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