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Farmington Company can borrow at 6.6 percent. The company currently has no debt and the cost of equity is 14.8 percent. The current value of

Farmington Company can borrow at 6.6 percent. The company currently has no debt and the cost of equity is 14.8 percent. The current value of the firm is $835,969. The corporate tax rate is 28 percent. If the company borrows $427,243 and uses the proceeds to repurchase shares, the value of the firm will be $ . Answer to two decimal places

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