Farmington Company can borrow at $6\mathrm{.}5$ percent. The company currently has no debt and the cost of equity is $10\mathrm{.}9$ percent. The current value of the firm is $$605,000.$ The corporate tax rate is $22$ percent. What will the value be if the company borrows $$320,000$ and uses the proceeds to repurchase shares? What is the value of the firm?