An unlevered firm has a value of $500 million. An otherwise identical but levered firm has $80 million in debt and a 5% cost of debt. No growth is expected. The unlevered cost of equity is 11% and the corporate tax rate is 35%. Assuming an environment with corporate taxes, but no bankruptcy costs, what is the value of the levered firm? $560 million $580 million $828 million $528 million $643 million