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University Center Co. currently has EBIT of $36,000 and is all equity financed. EBIT are expected to grow at a rate of 2% per year.

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University Center Co. currently has EBIT of $36,000 and is all equity financed. EBIT are expected to grow at a rate of 2% per year. The firm pays corporate taxes equal to 30% of taxable income. The cost of equity for this firm is 18%. What is the market value of the firm? Enter your answer rounded to two decimal places. Number

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