Bluegrass Mint Company has a debt-equity ratio of .40. The required return on the company’s unlevered equity is 12.8 per

[answerhappygod]

Bluegrass Mint Company has a debt-equity ratio of .40. The
required return on the company’s unlevered equity is 12.8
percent and the pretax cost of the firm’s debt is 6.6 percent.
Sales revenue for the company is expected to remain stable
indefinitely at last year’s level of $19,700,000. Variable costs
amount to 70 percent of sales. The tax rate is 21 percent and
the company distributes all its earnings as dividends at the end of
each year.
If the company were financed entirely by equity, how much would
it be worth? (Do not round intermediate calculations
and enter your answer in dollars, not millions of dollars,
rounded to 2 decimal places, e.g., 1,234,567.89)