Cede & Co$.$ expects its EBIT to be $$91,000$ every year forever. The firm can borrow at $4$ percent. The firm currently has no debt, and its cost of equity is $11$ percent.

a$.$ If the tax rate is $22$ percent, what is the value of the firm? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

b$.$ What will the value be if the company borrows $$136,000$ and uses the proceeds to repurchase shares? $($Do not round intermediate calculations and round your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$