Here are book- and market-value balance sheets of the United Frypan Company (figures in $ millions):

Book-Value Balance Sheet

Net Working Capital $45	Debt $65
Long-Term Assets $55	Equity 35
$100	$100

Market-Value Balance Sheet

Net Working Capital $45	Debt $65
Long-term assets 190	Equity 170
$235	$235

Assume that MMs theory holds except for taxes. There is no growth, and the $65 of debt is expected to be permanent. Assume a 21% corporate tax rate.

How much of the firm's value is accounted for by the debt-generated tax shield?

Note: Enter your answer in million rounded to 2 decimal places.

What is United Frypans after-tax WACC if r_Debt = 7.5% and r_Equity = 15.5%?

Note: Do not round intermediate calculations. Enter your answer as a percent rounded to 2 decimal places.

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 an 7.5% borrowing rate.

Note: Do not round intermediate calculations. Enter your answer in million rounded to 2 decimal places.