Marpor Industries has no debt and expects to generate free cash flows of $17 million each year, Marpor believes that if it permanently increases its level of debt to $35 million, the risk of financial distress may cause it to lose some customers and receive less favorable terms from its suppliers. As a result, Marpor's expected free cash flows with debt will be only $16 million per year. Suppose Marpor's tax rate is 30%, the risk-free rate is 4%, the expected return of the market is 12%, and the beta of Marpor's free cash fows is 1.2 (with or without leverage). a. Estimate Manpors value without leverage. b. Estimate Marpors value with the new leverage. a. Estimate Manpors value without leverage. Marpors value without leverage is $ million. (Round to two decimal places.) b. Estimate Marpors value with the new leverage. Marpors value with the new leverage is $ million (Round to two decimal places.)