Great Lakes Shipping is an all$-$equity firm with anticipated earnings before interest and taxes of $$386,000$ annually forever. The present cost of equity is $17\mathrm{.}1$ percent. Currently, the firm has no debt but is considering borrowing $$1\mathrm{.}48$ million at $8\mathrm{.}5$ percent interest. The tax rate is $25$ percent. What is the value of the levered firm?