25% combined federal-plus-state tax rate. The risk-free rate is 7% and the market risk premium is 5%. places. Pre-acquisition levered cost of equity: % Unlevered cost of equity: % should be entered as 1.23, not 1,230,000. Do not round intermediate calculations. Round your answer to two decimal places. $ million round intermediate calculations. Round your answer to two decimal places. $ million should be entered as 1.23, not 1,230,000. Do not round intermediate calculations. Round your answers to two decimal places. Value of operations: \$ million Equity value to acquirer: \$ million Maximum price: \$ per share