Meyer & Co. expects its EBIT to be $108,000 every year forever. The firm can borrow at 6 percent The company currently has no debt, and its cost of equity Is 12 prcent o. If the tax rate is 22 percent, what is the value of the firm? (Do not round Intermedlate calculetions and round your answer to 2 decimel places, e.g, 3216.) b. What will the value be if the company borrows $220,000 and uses the proceeds to repurchase shares? (Do not round Intermedlate calculations and round your answer to 2 decimal places, e.g., 32.16.) a. Value of the firm b. Value of the firm