an all equity firm subject to a $35$ percent corporate tax. Its equity holders require $20$ percent return. The firm$$s initial market value is $4500000,$ and there are $200000$ shares outstanding. The firm issues $1$$ million of bonds at $10$ percent and uses the proceeds to repurchase common stock. Assume there is no change in cost of financial distress $($bankruptcy cost$)$ for the firm. According to M&M what is the new market value of equity of the firman all equity firm subject to a $35$ percent corporate tax. Its equity holders require $20$ percent return. The firm$$s initial market value is $4500000,$ and there are $200000$ shares outstanding. The firm issues $1$$ million of bonds at $10$ percent and uses the proceeds to repurchase common stock. Assume there is no change in cost of financial distress $($bankruptcy cost$)$ for the firm. According to M&M what is the new market value of equity of the firm