Folgers Air Transport $($FAT$)$ is currently an unlevered $$rm$.$ It is considering a capital

restructuring to allow $$500$ in debt. The company expects to generate $$151\mathrm{.}52$ in cash

$$ows before interest and taxes, in perpetuity. Its cost of debt capital is $10\%$ and the

corporate tax rate is $34\%.$ Unlevered $$rms in the same industry have a cost of equity

capital of $20\%.$

Using VL $=$ VU $+$ tcDL$,$ APV, M&M$$s formula, and WACC, what will be the new value

of FAT? $($You should get the same answer in all four cases.