Its cost of equity is 11 percent if the tax rate is 35, Financial Management

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Its cost of equity is 11 percent if the tax rate is 35

Meyer & Co. expects its EBIT to be $69,000 every year forever. The firm can borrow at 5 percent. Meyer currently has no debt, and its cost of equity is 11 percent. If the tax rate is 35 percent, what is the value of the firm? (Do not round intermediate calculations. Round your answer to 2 decimal places, e.g., 32.16.)

Value of the firm = $______

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Financial Management: Its cost of equity is 11 percent if the tax rate is 35

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Financial Management: Its cost of equity is 11 percent if the tax rate is 35

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