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Taunton's is an all-equity firm that has 154,000 shares of stock outstanding. The CFO is considering borrowing $269,000 at 7 percent interest to repurchase 23,000

Taunton's is an all-equity firm that has 154,000 shares of stock outstanding. The CFO is considering borrowing $269,000 at 7 percent interest to repurchase 23,000 shares. Ignoring taxes, what is the value of the firm

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