Wolfgang can borrow at 8.25 percent. The company currently has no debt, and the cost of equity is 12.5 percent. The current value of the firm is $631,000. The corporate tax rate is 32 percent. What will the value be if the company borrows $212,000 and uses the proceeds to repurchase shares? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) Value of the firm

Wolfgang can borrow at 8.25 percent. The company currently has no debt, and the cost of equity is 12.5 percent. The current value of the firm is $631,000. The corporate tax rate is 32 percent. What will the value be if the company borrows $212,000 and uses the proceeds to repurchase shares? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)