Relay Inc. keeps a constant debt to equity ratio policy equal to 0.8 and its wacc is 13%. The company has an expected net income equal to $12,054,021 for next year and its assets are completely depreciated. The amount of interest to be paid next year is $1,125,000 and the expected EBITDA of the company is constant and perpetual.
If the corporate tax rate is 34%o what is the value of levered equity?