An unlevered company with a cost of debt of 9% and a current value of $800,000 is considering borrowing $160,000. The borrowed funds would be used to repurchase shares. Assume all available earnings are immediately distributed to common shareholders and all the M&M assumptions are satisfied except the corporate tax rate is 25% and investors are subject to a 28% tax rate on debt income and a 22% tax rate on equity income. According to M&M Proposition I with personal and corporate taxes, what will be the value of this company if it proceeds with the capital restructuring?