Jellybean Co. expects EBIT of $150,000 every year forever. Jellybean Co. currently has no debt and its cost of equity is 18%. The firm can borrow at 5%. The corporate tax rate is 36%.

Given that the firm has a value of $533,333.33 when it is all equity, what will be the value of the firm if Jellybean Co. borrows $250,000 of permanent debt and uses the proceeds to buy back stock? Enter your answer rounded to two decimal places.