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$t$ is $2021$ and your company is in the process of setting its target capital structure. The CFO believes that the optimal debt$-$to$-$capital ratio is somewhere between $0\%$ and $50\%,$ and her staff has compiled a table of $2021$ projections for EPS and the stock price at various debt levels.

$.$ Assuming that the firm uses only debt and common equity, what is the optimal capital structure for $2021($give percentage of debt and equity$)?$

Now, it is $2022$ and your company is re$-$evaluating its target capital structure. The CFO now believes that the optimal capital structure is between $25\%$ and $55\%,$ and staff have compiled a table of $2022$ projections for EPS and WACC at various debt levels.

b$.$ Assuming that the firm uses only debt and common equity, what is the optimal capital structure for $2022($give percentage of debt and equity$)?$

Worth $5$ points total.