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An all equity financed project with following information: Initial capital spending is $650 Million; The project will create perpetual $260 Million unlevered after-tax cash flow

An all equity financed project with following information: Initial capital spending is $650 Million; The project will create perpetual $260 Million unlevered after-tax cash flow every year; The cost of unlevered discount rate is 16% Corporate tax is 34% . If firm decides to borrow $390 Million at 6% borrowing rate for this project. What is annual levered cash flow from equity holders' perspective?

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