Perpetuum Mobile Inc. is an all-equity firm that generates $6m in annual after-tax cash flows that are expected to remain constant forever. It's cost of capital is currently 11%. The firm is planning to borrow $15M and use the proceeds to buy back shares. The cost of debt is 6%. The debt will mature in 10 years after which the firm is expected to maintain zero-leverage capital structure. What is the new value of the firm if the tax rate is 30%?