Tool Manufacturing has an expected EBIT of $$67,000$ in perpetuity and a tax rate of $22$

percent. The firm has $$195,000$ in outstanding debt at an interest rate of $4\mathrm{.}4$ percent,

and its unlevered cost of capital is $10\mathrm{.}3$ percent. What is the value of the firm according

to M&M Proposition I with taxes? $($Do not round intermediate calculations and round

your answer to $2$ decimal places, e$.$g$.,32\mathrm{.}16.)$

Value of the firm