Werner Company has expected earnings before interest and taxes of $2,744,000, an unlevered cost of capital of 9.02 percent, and a tax rate of 25 percent. The company has $8,600,000 of debt that carries a 7.1 percent coupon. The debt is selling at par value. What is the value of this company? $26,318,446 $24,965,965 $22,951,323 $20,008,560 $28,557,755