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Sun Inc. is an all - equity firm that has projected perpetual EBIT of $ 3 4 0 , 0 0 0 . The current

Sun Inc. is an all-equity firm that has projected perpetual EBIT of $340,000. The current cost of equity is 12.8 percent and the tax rate is 40 percent. The company is in the process of issuing $956,000 worth of perpetual bonds with an annual coupon rate of 6.4 percent at par. What is the value of the levered firm?
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