Here are book- and market-value balance sheets for Duane Associates. Figures are in millions. Book-Value Balance Sheet Assets Assets (book value) $100 Liabilities and Shareholders' Equity Debt $40 Equity $60 $100 $100 Market-Value Balance Sheet Assets Assets (book value) $160 Liabilities and Shareholders' Equity Debt $40 Equity $120 $160 $160 Assume that MM's 1963 theory with tax holds. Assume also a 35% corporate tax rate. The expected return for the firm's equity is 15%. The bonds are now yielding 8%. a. How much of the firm's value is accounted for by the bond-generated tax shield? b. What is the company's after-tax WACC