Cruz Corporation has $150 billion of debt outstanding. An otherwise identical firm has no debt and has a market value of $400 billion. Under the Miller model,

what is Cruzs value if the federal-plus-state corporate tax rate is 28%, the effective personal tax rate on stock is 17%, and the personal tax rate on debt is 29%?

Enter your answer in billions. For example, an answer of $1.23 billion should be entered as 1.23, not 1,230,000,000. Round your answer to two decimal places.