Centrica Company is currently an all equity firm that has 450,000 shares of stock outstanding with a market price of $54.40 a share. The current cost of equity is 10.5 percent and the tax rate is 25 percent. The firm is considering adding $6.3 million of debt with a coupon rate of 6 percent to its capital structure. The debt will be sold at par value. What is the levered value of the equity?

		$18,855,000
		$19,305,000
		$18,496,000
		$19,755,000
		$19,945,000