A company just issued $$453000$ of perpetual $5\%$ debt and used the proceeds to repurchase stock. The company expects to generate $107000$ 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 $14\%$ and the tax rate is $25\%.$ Use APV method to calculate the value of the company with leverage.

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