Please provide solution in excel showing all the formulas.

a)

Consider a firm with EBIT of $125,000, debt of $500,000. If the rd is 12%, the rsU= 16% and the corporate tax rate is 40%, then what is the value of the firm (VL) according to MM with corporate taxes?

b)

The market value of Firm L's debt is $200,000 and its yield is 10%. The firm's equity has a market value of $300,000, its earnings are growing at a 5% rate, and its tax rate is 40%. A similar firm with no debt has a cost of equity of 14%. Under the MM extension with growth, what would Firm L's total value be if it had no debt?

c)

The common stock of Southern Airlines currently sells for $33, and its 8% convertible debentures (issued at par, or $1,000) sell for $850. Each debenture can be converted into 27 shares of common stock at any time before 2025. What is the conversion value of the bond?