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Kline Construction is an all - equity firm that has projected perpetual EBIT of $ 3 3 2 , 0 0 0 . The current

Kline Construction is an all-equity firm that has projected perpetual EBIT of $332,000. The current cost of equity is 12.6 percent and the tax rate is 21 percent. The company is in the process of issuing $948,000 worth of perpetual bonds with an annual coupon rate of 6.6 percent at par. What is the value of the levered firm?

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