What is the value of firm according to modigliani and miller, Financial Accounting

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What is the value of firm according to modigliani and miller

Problem

Calm Seas Corp, a zero growth firm, has an expected EBIT of $134,460 and a corporate tax rate of 28%. It has $417,899 of debt. The cost of debt is 11.0%, and the cost of equity to an unlevered firm of the same risk is 15%. What is the value of the firm according to Modigliani and Miller (MM) theory with corporate taxes?

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Financial Accounting: What is the value of firm according to modigliani and miller

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Financial Accounting: What is the value of firm according to modigliani and miller

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