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If managed efficiently, Food-Polar will have a possible market value of $100 million, $300 million, or $500 million next year, with each outcome being equally likely. What is the expected market value of Food-Polar? a. $280 million b. $300 million O c. $260 millionIn a reverse stock split the: O a. firm buys back existing shares of stock on the open market * b. number of shares outstanding decreases c. number of shares outstanding increases If two firms are equivalent in all other respects, an analyst should expect the equity beta of the levered firm to be the equity beta of the unlevered firm. O a. greater than O b. roughly equivalent to c. less thanWhich of the following statements is FALSE? a. The tradeoff theory explains how firms should choose their capital structures to maximize value to current shareholders. O b. If the debt level is too large, firm value is reduced because the tax shield benefits are smaller than the financial distress costs. c. The tradeoff theory explains how firms should choose their capital structures to minimize the use of debt. Dohan Bike has an outstanding perpetual callable bond. The par value of the callable bond is $1,000. The bond makes an annual coupon payment, and the coupon rate is 4%. It can be called in one year. The call price will be $1,300 if it is called. There is a 35% chance that the long-term interest rate in one year will be 5.5% and a 65% chance that the interest rate will be 3.3%. The current interest rate is 4%. Based on the above information, the call premium of the bond is a. $40 b. $300 O c. $55