Universal Exports Inc. is an all equity firm. At the end of the current year, the CFO expects EBIT to be $$500$ and the same earnings are expected annually in perpetuity. The company is not growing so CAPEX and investments in net working capital are zero. The cost of equity for Universal is $8\%.$ Universal's prime competitor is a company called Spectre Corp. Spectre is identical to Universal Exports in every respect except that Spectre has $$694\mathrm{.}44$ of long term debt outstanding. What is the value of Spectre Corp.? The corporate tax rate is $50\%.($Round to two decimal places.$)$