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Wolfgang can borrow at 9 percent. The company currently has no debt, and the cost of equity is 14 percent. The current value of the

Wolfgang can borrow at 9 percent. The company currently has no debt, and the cost of equity is 14 percent. The current value of the firm is $640,000. The corporate tax rate is 38 percent. What will the value be if the company borrows $215,000 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 $

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