Case $30$: M&M Pizzatyped answer please, thanl you What is going on at M&M Pizza? How do the financial statements for M&M Pizza vary with the proposed repurchase plan? Do the alternative policies improve the expected dividends per share?Describe the companies current WACC, and capital structure choices. It seems obvious that debt is the cheaper source of funds. Why is the company willing to pay $8\%$ on equity when it could borrow at $4\%?$What impact does the repurchase plan have on M&Ms weighted$-$average cost of capital? Complete the table below $($No Corporate Taxes$).$ What are the debt and equity claims worth under the alternative scenarios? You may note that the present value of a perpetual cash flow stream is equal to the expected payment divided by the associated required return. Which proposal is best for investors, discuss your results in your explanation? What do you recommend that Miller do$?$ Income StatementDebt $=0$Debt $=500$ Revenue$15001500$ Operating expenses$13751375$ Operating profit$125125$ Interest payments$0$ Taxes$00$ Net profit$125$ Dividends$125$ Shares outstanding$62\mathrm{.}5$ Dividends per share$2\mathrm{.}00$ Cost of Capital Cost of debt$4\mathrm{.}00\%4\mathrm{.}00\%$ Beta$0\mathrm{.}800$Levered Beta Cost of equity CAPM WACC $=$ D $/$ V $*$ Kd $(1-$ t$)+(1-$ D$/$V$)*$ Ke Cash flows Debt holders $=$ Interest payments