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The Wyoming Button Co. is an unlevered firm with a market value of $17,500,000. The firm is considering adding $5,000,000 in debt (in place of

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The Wyoming Button Co. is an unlevered firm with a market value of $17,500,000. The firm is considering adding $5,000,000 in debt (in place of equity) to its capital structure. The stock holders pay taxes at 15%, the bondholders pay 0 \%, and the corporation pays 21%. Using Miller's (1977) model of the value of the tax shield, what will be the value of the relevered firm with the $5,000,000 in debt? $17,500,000 $16,712,121 $19,142,500 $17,430,303 $18,550,000

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