Dooda Mfg. has just changed its capital structure from D = $424,000 to D =...
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Dooda Mfg. has just changed its capital structure from D = $424,000 to D = $296,000. Before the change, the market value of Dooda's equity was $643,000. Assuming MM 1963 holds, find the market value of Doodas equity now that the company has changed its debt. The corporate tax rate is 28% and there are no personal taxes. Give the answer as a dollar amount with no decimals; e.g., if you believe the answer is $456,789.55 then write your answer as 456790 (Acceptable error = $500).
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