please answer a, b, c, d

Kohwe Corporation plans to issue equity to raise $40 million to finance a new investment. After making the investment, Kohwe expects to earn free cash flows of $10 million each year. Kohwe currently has 5 million shares outstanding, and it has no other assets or opportunities. Suppose the appropriate discount rate for Kohwe's future free cash flows is 7%, and the only capital market imperfections are corporate taxes and financial distress costs. What is the NPV of Kohwe's investment? What is Kohwe's share price today? Suppose Kohwe borrows the $40 million instead. The firm will pay interest only on this loan each year, and it will maintain an outstanding balance of $40 million on the loan. Suppose that Kohwe's corporate tax rate is 30%, and expected free cash flows are still $10 million each year. What is Kohwe's share price today if the investment is financed with debt? Now suppose that with leverage, Kohwe's expected free cash flows will decline to $9 million per year due to reduced sales and other financial distress costs. Assume that the appropriate discount rate for Kohwe's future free cash flows is still 7%. What is Kohwe's share price today given the financial distress costs of leverage? What is the NPV of Kohwe's investment? The NPV is $ million. (Round to one decimal place.)