Marpor n ustres has no debt and expects o genera e ree cash o s o $14 mallon each year. Mar or believes hat it permanent y in eases its ve o debto 4 m on. the s o nan al d stress a cause tto o se some customers and receive eas avorable terms from s suppliers. As a result, Marpor's expected ree cash fo s with debt will be only $13 million per year. Suppose Marpor's tax rate is 35%, the risk-free rate is 3%, the expected retum of the market is 14%, and the beta of Marpor's free cash flows is 1.3 (with or without leverage). a. Estimate Marpors 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 the nearest integer.)