Here are book and market value balance sheets of the United Frypan Company (figures in S millions) Book Value Balance Sheet Net working capital $ 40 Debt 5 30 Long-ters assets 60 Equity 20 $ 100 $ 100 Market Value Balance Sheet Networking capital $ 40 Debt Long-term assets 195 Equity $ 235 5 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, .. 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 b. What is United Frypan's after tax WACC it oebe - 70% and Equity - 16,0%? (Do not round intermediate calculations. Enter your 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 70% (Do not round intermediate calculations. Enter your answer in million rounded to 2 decimal places.) PV taxed WACC Ne of the form milion