Kenneth Cole Productions (KCP) was acquired in 2012 for a purchase price of $15.25 per share. KCP had 18.5 milion shaves cutstanding. $45 milion in cash, and no debt at the ime of the acquisition. a. Given a weighted average cost of capital of 11% and assuming no future growth, what lovol of annual free cash fow would justly this acquistion prica? b. If KCP's curtent annwal sales are $480 million, assuming no net capter expeoditures or increases in net working capital, and a tax rate of 35%, what EBit margin does your answer in part (a) reguire? a. Glven a wighsed average cost of capital of 11%, and assuming no future growh, what level of annual tree cash fow would justly this aceusiton price? The level of annual free cash flow that weuld jusify this acquitition price is 1 fillon. (Round to tho deoimal places.)