P$13-21$ Agency Costs and Capital Structure Galaxy Enterprises has earnings before interest and taxes of $$9$ million of debt outstanding with a required rate of return of $7\mathrm{.}3\%.$ The required rate of return on assets in the industry is $12\%.$ The corporate tax rate is $21\%,$ but there are no personal taxes. The present value of Galaxy's bankruptcy costs is $$18$ million. Compute Galaxy's firm value.

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