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Fujita, Incorporated, has no debt outstanding and a total market value of $450,000. Earnings before interest and taxes, EBIT, are projected to be $57,000 if economic conditions ore normal. If there is strong expansion in the economy, then EBIT will be 16 percent higher If there is a recession, then EBIT will be 24 percent lower. The compony is considering a $215,000 debt issue with an interest rote of 8 percent. The proceeds will be used to repurchase shares of stock. There are currently 9,000 shares outstanding. Ignore taxes for questions (a) and (b). Assume the company hos a market-to-book ratio of 1.0 and the stock price remains constant. 8-1. Calculate return on equity. ROE, under each of the three economic scenarios before any debt is issued. Note: Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g. 32.16. 0.2. Calculate the percentage chonges in ROE when the economy expands or enters a recession. Note: A negative answer should be indicated by o minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. b-1. Assume the firm goes through with the proposed recapitalization. Colculote the return on equity, ROE, under eoch of the three economic scenarios Note: Do not round intermediste calculations and enter your answers as o percent rounded to 2 decimal places, e.g. 32.16 . b.2. Assume the firm goes through with the proposed recapitalization. Calculate the percentoge changes in ROE when the economy exponds or enters a recession. Note: A negative enswer should be indicoted by a minus sign. Do not round intermediote calculations and enter your answers as a percent rounded to 2 decimal ploces, e.g. 32.16. Assume the firm has o tax rate of 25 percent. C.1. Calculote return on equity (ROE) under each of the three economic scenarios before any debt is issued Note: Do not round intermediate colculations and enter your answers os a percent rounded to 2 decimal places, e.9., 32.16 . c2. Calculate the percentage changes in ROE when the economy expands or enters a recession. Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal pleces, e.9., 32.16. c-3. Caiculate the return on equity (ROE) under each of the three economic scenarios ossuming the firm goes through with the recapitalzation. Note: Do not round intermediote calculations and enter your answers as a percent rounded to 2 decimal places, e.g., 32.16. c.4. Given the recapitalization, colculate the percentage changes in ROE when the economy expands or enters a recession. Note: A negative answer should be indicated by a minus sign. Do not round intermediate calculations and enter your answers as a percent rounded to 2 decimal places, e.g, 32.16