Here are book and market value balance sheets of the United Frypan Company (figures in $ millions): $ 30 Book-Value Balance Sheet Net working capital $ 40 Debt Long-term assets 68 Equity $ 100 70 $ 100 Market-Value Balance Sheet Net working capital $ 40 Debt Long-term assets 195 Equity $ 235 $ 30 205 $ 235 Assume that MM's theory holds except for taxes. There is no growth, and the $30 of debt is expected to be permanent Assume a 21% corporate tax rate. a. 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 Debt = 7.0% and requity = 16.0%? (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 firm, other things equal? Assume a borrowing rate of 7.0%. (Do not round intermediate calculations. Enter your answer in million rounded to 2 decimal places.)