Consider a firm which is not growing. All operating results are the same, year after year. From the following information, compute the market value of the firm, according to the Miller-Modigliani method. Assume there are no nonoperating assets. Ignore mid-year discounting.
NOPAT = 600
Interest expense = 50
Interest rate on the debt = 4%
Unlevered cost of equity for industry risk = 8%
Tax rate = 34%
PLEASE SHOW WORK