Acme Storage has a market capitalization of $$200$ million and debt outstanding of $$70$ million.

Acme plans to maintain this same debt$-$equity ratio in the future. The firm pays an interest rate of $7\%$ on its debt and has a corporate tax rate of $35\%.$

a$)$ If Acme$$s free cash flow is expected to be $$15$ million next year and is expected to grow at a rate of $3\%$ per year, what is Acme$$s asset return rA$?$

b$)$ What is Acme$$s after$-$tax WACC?

c$)$ What is the present value of Acme$$s interest tax shield?