Here are book and market value balance sheets of the United Frypan Company (figures in $ millions Book Value Balance Sheet Net working capital $ 50 Debt Longter assets 50 Equity $100 50 40 100 $ Parket Value Balance Sheet Networking capital $ 50 Debt Long term assets 205 Equity $ 255 5 60 195 $ 255 Assume that MM's theory holds except for taxes. There is no growth, and the $60 of debt is expected to be permanent. Assume a 21% corporate tax rate .. How much of the firm's market value is accounted for by the debt-generated tax shield? (Enter your answer in million rounded to 2 decimal places.) b. What is United Frypan's after-tax WACC if rett - 72% and fequity = 158%? (Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.) c. Now suppose that Congress passes a law that eliminates the deductibility of interest for tax purposes after a grace period of 5 years. What will be the new value of the form other things equal? Assume a borrowing rate of 72% (Do not round intermediate calculations. Enter your answer in million rounded to 2 decimal places.) million PV ta shield WACC Ne value of them milion