Westonci.ca is your go-to source for answers, with a community ready to provide accurate and timely information. Experience the convenience of finding accurate answers to your questions from knowledgeable professionals on our platform. Connect with a community of professionals ready to provide precise solutions to your questions quickly and accurately.

Quillpen Company is unlevered and has a value of $25 billion. An otherwise identical but levered firm finances 25% of its capital structure with debt. Under the MM zero-tax model, what is the value of the levered firm? Enter your answer in billions.