Blockchain Inc has debt with a promised payment of $400M in one year. This debt's market value is $350M today and the cost of debt is 6%. Blockchain's (free) cash flows in a year are $720M with a probability 0.8 and $255M with probability 0.2. There will be no more cash flows. The cost of equity for the unlevered firm is 10% and the corporate tax rate is 40%. Corporate taxes is the only market imperfection.

What is the value of the (levered) firm and the cost of equity?