3) Redo 1) with all the same values (including equal likelihood of Good rms and Lemons) with the exception of one change: assume that the NPV of the investment opportunity is 50 for Good Firms and 20 for Lemons. (So, assume that assets in place are the same as given in the table above, that the two types of rms are equally probable, and that the opportunity still requires I = 275.) a) Will both Good Firms and Lemons issue stock and invest in the opportunity? Report steps la-lc as noted above. Show all of your work. b) What are the equilibrium payoffs to shareholders? c) Is there adverse selection? Give an intuitive explanation for why the outcome differs in (1) and (3)