Marpor Industries has no debt and expects to generate free cash flows of $16 million each year. Marpor bolieves that if it permanently increases its level of debt to $27.56 million, the risk of financial distress may cause it to lose some customers and receive less favourable terms from its suppliers. As a result, Marpor's expected free cash flow with debt will be only $15 milion per year. Suppone Marpor's tax rate is 21% the risk free rate is 3%, the expected return of the market is 12%, and the bota of Marpor's free cash flows is 1.3 (With or without loverago) a. Estimate Marpor's value without leverage b. Estimate Marpor's value with the new leverage a. Estimate Marpor's value without leverage Marpor's value without leverage is s million (Round to two decimal places) b. Estimate Marpor's value with the new leverage Marpor's value with the new leverage in milion (Round to two decimal places)