An all-equity company with a cost of capital of 9% expects its EBIT will be $270,000 every year forever. Assume all available earnings are immediately distributed to common shareholders and all the M&M assumptions are satisfied except the company's corporate tax rate is 20%. What is the value of the company according to M&M Proposition I with taxes? Do not round intermediate calculations.

Round the final answer to 2 decimal places. Omit any commas and the $ sign in your response. For example, an answer of $1,000.50 should be entered as 1000.50.