A company just issued $$309000$ of perpetual $10\%$ debt and used the proceeds to

repurchase stock. The company expects to generate $117000$ of EBIT in perpetuity.

The company distributes all its earnings as dividends at the end of each year. The

firm's unlevered cost of capital is $15\%$ and the tax rate is $30\%.$ What is the value of

the company as an unlevered firm?