Maddux Corporation has an EBIT of $$975,000$ per year that is expected to continue in perpetuity. The unlevered cost of equity for the company is $11$ percent and the corporate tax rate is $25$ percent. The company also has a perpetual bond issue outstanding with a market value of $$2\mathrm{.}8$ million. What is the value of the company? $($Do not round intermediate calculations and enter your answer in dollars, not millions of dollars, rounded to $2$ decimal places, e$.$g$.,1,234,567\mathrm{.}89)$

The CFO of the company informs the company president that the value of the company is $$6\mathrm{.}6$ million. Is the CFO correct?