Cede \& Co. can borrow at 8.50 percent. Cede currently has no debt, and the cost of equity is 13.00 percent. The current value of the firm is $634,000. The corporate tax rate is 34 percent. Required: What will the value be if Cede borrows $213,000 and uses the proceeds to repurchase shares? $428,560$774,580$706,420$356,140$847,000