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A firm has debt due in one year of $1000. The assets of the firm are worth $1000 today, and will be worth either $1400

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A firm has debt due in one year of $1000. The assets of the firm are worth $1000 today, and will be worth either $1400 or $600 in one year. What is the value of the firm's equity if the risk-free rate is 0.09? Round your answer to the nearest penny

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