Barclay Corp is operating in a country K where the corporate tax is 30%, personal income tax on bond investment is 25% while the personal tax on stock is 29%. Assume the earnings before interest and taxes is $32 million and cost of equity with no debt is 10%.

A. If Barclay current has $8 million total market value of debt financing, what would be the market value of the company of Barclay Corp in this country K?