Tybo Corporation adjusts its debt so that its interest expenses are 22% of its free cash flow. Tybo is considering an expansion that will generate free cash flows of $2.27 million this year and is expected to grow at a rate of 4.1% per year from then on. Suppose Tybo's marginal corporate tax rate is 39%. (round to 4 decimals places)

a. If the unlevered cost of capital for this expansion is 10.3%, what is its unlevered value?

b. What is the levered value of the expansion?

c. If Tybo pays 4.1%interest on its debt, what amount of debt will it take on initially for the expansion?

d. What is the debt-to-value ratio for this expansion? What is its WACC?

e. What is the levered value of the expansion using the WACCmethod?