Firm F has existing debt with face value $ 20 million, zero-coupon, and one year maturity. F decides to raise additional debt with face value $20 million, zero-coupon, one year maturity. The cost of equity is 10% and the risk-free rate is 3%. Assume that the additional debt has the same seniority as existing debt and the proceeds from the issuance are immediately distributed to stockholders. Firm value in one year is expected as follows. State Probability Firm Value Depression 0.1 $20 million Recession 0.2 $30 million Normal 0.4 $80 million Boom 0.3 $120 million After the additional debt issuance, the cost of debt is 4%. Do you think this type of op- eration is likely to happen? Provide the detailed calculation/explanation on your