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Here are book and market-value balance sheets of the UnitedFrypan Company:Book-Value Balance SheetNet working capital$70Debt$60Long-term assets30Equity40$100$100Market-Value Balance SheetNet working capital$70Debt$60Long-term assets150Equity160$220$220Assume that MM’s theory holds except for taxes. There is nogrowth, and the $60 of debt is expected to be permanent. Assume a36% corporate tax rate.a. How much of the firm's market value isaccounted for by the debt-generated tax shield?b. What is United Frypan’s after-tax WACC ifrDebt = 6.1% and rEquity =16.9%? (Do not round intermediate calculations. Enter youranswer as a percent rounded to 2 decimal places.)c. Now suppose that Congress passes a law thateliminates the deductibility of interest for tax purposes after agrace period of 5 years. What will be the new value of the firm,other things equal? Assume a borrowing rate of 6.1%. (Donot round intermediate calculations. Round your answer to 2 decimalplaces.)