U'I Massey-Mose Corporation has a perpetual EBIT of $3 million and a 413% tax rate. Let'e aesume that depreciation expense is zero. It is able to borrow at an interest rate of 14%, whereas its required rate ofremrn on equityr in the absence of borrowing is 13%. a In the absence of personal taxes, what is the 1value of the rm 1when it has no debt? When it has 54 million in debt? 13. If the marginal personal tax. rates on stock and bond income are 25% and 313%, respectively, determine the value of le nn when it has no debt and when it hae $4 million in debt