The given circuit has two components:
- (R1, R2) -> ADDER -> R3
- MUX -> R5 -> R6 -> R4 -> MUX
When circuit operates in steady state component-1 will have a delay of 30 ns i.e. the maximum delay of its components (you can relate this with pipelining). But component-2 will have the delay of the sum of its components as it is a feedback circuit. Considering delay for R5 and R6 as Zero the delay for the circuit will be 25+10 = 35 ns.
Hence in order to operate this circuit, the clock delay should be at least 35 ns.
Hence, frequency = 1/35 x 109 Hz = 28.57 MHz .