ABC Company is unlevered and has an expected perpetual EBIT = $4,000. The unlevered cost of capital is 15% and there are 20,000 shares of stock outstanding. The firm is considering issuing $8,800 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 is 10% and the tax rate is 34%. Including the effect of taxes, what is the value of ABC before the restructuring? $18.519 $17,600 $30.000 $15,930 $26,667