P16-16 M&M (LO2] 26 Tool Manufacturing has an expected EBIT of $31,000 in perpetuity, and a tax rate of 34 percent. The firm has $70,000 in outstanding debt at an interest rate of 9 percent, and its unlevered cost of capital is 14 percent. The value of the firm is $ according to M&M Proposition I with taxes. (Do not include the dollar sign ($). Round your answer to 2 decimal places. (e.g., 32.16)) 10 points eBook References