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Eccles Inc., a zero growth firm, has an expected EBIT of $120,000 and a corporate tax rate of 30%. Eccles uses 5550,000 of 12.0% debt,

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Eccles Inc., a zero growth firm, has an expected EBIT of $120,000 and a corporate tax rate of 30%. Eccles uses 5550,000 of 12.0% debt, and the cost of equity to an unlevered firm in the same risk class is 16.0% Refer to the data for Eccles Inc. What is the value of the firm according to MM with corporate taxes? a $587,500 b. 5525,000 c5475,875 d.5690,000

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