Kurz Manufacturing is an all-equity firm with 50M shares outstanding at a price of $10.00 per share. Kurz will announce tomorrow that it will immediately borrow $200M and use this cash to repurchase shares. Kurz plans to hold this debt in perpetuity. Assume a corporate tax rate of 40%.

b) What is the market value of Kurzs assets (including the value of the tax shield) just after the debt is issued, but before the shares are repurchased?