Selasa Simnt Inc. has an EBIT of $5,325 in perpetuity. The unlevered cost of capital is 17.66%, and there are 30,930 common shares outstanding. The company is considering issuing $11,660 in new bonds at par to add financial leverage. The proceeds of the debt issue will be used to repurchase equity. The YTM of the new debt is 12.67% and the tax rate is 40%. What is the value of the firm after the restructuring?

$22,756 $23,325 $23,894 $24,462 $25,031