Coco Media is currently an all equity firm that has 850,000 shares of stock outstanding with a market price of $35 a share. The current cost of equity is 10 percent and the tax rate is 34 percent. The firm is considering adding $3.52 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?

		$19,733,560
		$21,086,520
		$23,390,610
		$25,108,270
		$27,426,800