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Connor Corp has an EBIT of $990,000 per year that is expected to continue in perpetuity. The unlevied cost of equity for the company is
Connor Corp has an EBIT of $990,000 per year that is expected to continue in perpetuity. The unlevied cost of equity for the company is 11%, and the corporate tax rate is 35%. The company also has a perpetual bond issue outstanding with a market value of $1.95 million. What is the value of the company? (Enter the answer in dollars, not millions of dollars. Do not round intermediate calculations and round your answer to the nearest whole dollar. Show your work
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