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Here are book- and market-value balance sheets of the United Frypan Company (figures in $ millions): Book-Value Balance Sheet Net working capital 25 Debt $

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

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Book-Value Balance Sheet Net working capital 25 Debt $ 60 Long-term assets 75 Equity 40 S 100 100 Market-Value Balance Sheet Net working capital 25 Debt 60 Long-term assets 180 Equity 145 S 205 S 205a. PV tax shield million b. WACC % C. New value of the firm million

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