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B.I. NGO is a non-government organization that is exempt from corporate taxes; in other words, B.I. does not pay corporate taxes. However, to finance its

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B.I. NGO is a non-government organization that is exempt from corporate taxes; in other words, B.I. does not pay corporate taxes. However, to finance its charitable activities it has issued both debt and equity. The NGO's debtholders pay a 32% tax rate on the interest they receive, and the NGO's equity holders pay a 24% tax rate on the dividends they receive. Assuming that the MM 1963 model with personal taxes holds, by how much will the market value of the assets of this NGO change if its debt increases by $13,000? Give the answer as an amount rounded to the nearest dollar. Thus, if you believe the answer is - $2,348.55 then write -2349 as your answer. (Acceptable error = $50)

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