Farmington Company can borrow at 6.75 percent. The company currently has no debt and the cost of equity is 11.15 percent. The current value of the firm is $630,000. The corporate tax rate is 22 percent. What will the value be if the company borrows $345,000 and uses the proceeds to repurchase shares? Note: Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32. Value of the firm