What is the value of Roxy under the

60/40

debt-to-equity capital structure?

Modigliani and Miller's world of taxes. Roxy Broadcasting was originally an all-equity firm with a before-tax value of $30,000,000. Roxy now pays taxes at a 40% rate. What is the value of Roxy under the 40/60 debt-to-equity capital structure? Under the 60/40 capital structure? What is the value of Roxy under the 40/60 debt-to-equity capital structure? $ (Round to the nearest dollar.)