Ice Cream Sandwich Co$.$ expects EBIT of $$100,000$ every year forever. Ice Cream Sandwich Co$.$ currently has no debt and its cost of equity is $12\%.$ The firm can borrow at $3\%.$ The corporate tax rate is $31\%.$

What is the value of the firm? Enter your answer rounded to two decimal places.

Correct response: $575,000+-0\mathrm{.}01$

Click "Verify" to proceed to the next part of the question. This question has $4$ parts, so you will be clicking verify $4$ times.

Given that the firm has a value of $$575,000$ when it is all equity, what will be the value of the firm if Ice Cream Sandwich Co$.$ borrows $$230,000$ of permanent debt and uses the proceeds to buy back stock? Enter your answer rounded to two decimal places.