Question: New Schools expects an EBIT of $87,000 every year forever. The firm currently has no debt, and its cost of equity is 14.6 percent. The firm can borrow at 7.4 percent and the corporate tax rate is 34 percent. What will the value of the firm be if it converts to 50 percent debt? The response must be typed, single spaced, must be in times new roman font (size 12) and must follow the APA format.