ABC Co has an expected perpetual EBIT = $4,500. The unlevered cost of capital 15% and there are 10,000 shares of stock outstanding. The firm is considering issuing $9,200 in new par bonds to add financial leverage to the firm. The proceeds of the debt issue will be used to repurchase equity. The cost of debt = 10% and the tax rate = 35%. There are no flotation costs. What is the value of ABC Co's equity after the restructuring? $22,500 $19,500 $13,520 $16,520 $11,792