$(15$ points$)$ ASN Corp has a debt$-$value ratio of $0\mathrm{.}40.$ The firm's equity cost of capital is

$15\%$ and the debt cost of capital of $8\%.$ ASN Corp's current market capitalization is $$360$

million, and its marginal tax rate is $35\%.$ The firm is committed to maintaining the

current debt$-$equity ratio in the future.

a$.$ If ASN Corp is expected to generate $$15,000,000$ free cash flow in one year, at what

growth rate the firm's current market value is consistent with the current pricing of the

stock?

b$.$ What portion of ASN Corp's firm value is created through interest tax shield?