An unlevered firm has a cost of capital of 22.5 percent and earnings before interest and taxes of $450,000. A levered firm with the same operations and assets has both a book value and has an interest expense of $50,000, which represents a 8 percent annual coupon. The applicable tax rate is 18 percent. What is the value of the levered firm? A. $1,500,000 B. $1,649,000 C. $1,752,500 D. $1,840,000