Donald Processed Foods is currently valued at $$420$ million. Donald will repurchase $$105$ million of its equity by issuing perpetual debt at an annual interest rate of $9$ percent. Donald is subject to a $30$ percent marginal tax rate. If the Modigliani and Miller assumptions apply, except the assumption that there are no taxes, what will the value of Donald be after the recapitalization? $($Enter amount in dollars.

Value of Donald

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