Problem 16-16 M and M [LO2) Tool Manufacturing has an expected EBIT of $65,000 in perpetuity and a tax rate of 35 percent. The firm has $195,000 in outstanding debt at an interest rate of 6.1 percent, and its unleveraged cost of capital is 14 percent. 10 points What is the value of the firm according to M&M Proposition I with taxes? (Do not round Intermediate calculations and round your final answer to 2 decimal places, e.g., 32.16.) 8 01:38:08 Value of the firm eBook References