Referring to table below, calculate the market value of firm L $($without a corporate income tax$)$ if the equity amount in its capital structure decreases to $$9,000$ and the debt amount increases to $$11,000.$ At this capital structure, the cost of equity is $26$ percent. Round your answer to the nearest dollar.

Firm U Firm L

Net operating income $($EBIT$)$ $ $3,000$ $ $3,000$

Less: Interest payments to debt holders, I $-480$

Income available to stockholders $($dividends$),$ D $ $3,000$ $ $2,520$

Total income available to security holders, I $+$ D $ $3,000$ $ $3,000$

Required rate of return on debt, kd $-6\%$

Market value of debt, B $=$ I$/$kd $-$ $ $8,000$

Required rate of return on equity,ke $15\%21\%$

Market value of equity, E $=$ D$/$ke $ $20,000$ $ $12,000$

Market value of firm, E $+$ B $ $20,000$ $ $20,000$