Question: Please show all equations and work as needed. Make the correct answer clear. If possible, please type work so it can be copied. Thank you.

Please show all equations and work as needed. Make the correct answer clear. If possible, please type work so it can be copied. Thank you.

Assume Last Inc. has no cash on hand, but wants to take on a project that adds $30 million in market value to the firm's assets, and has an NPV of $20 million. The project requires an initial investment of $10 million. LastQ Inc. wants to maintain its 50% Debt to Value Ratio. How much debt should LastQ issue, and how much should they pay stockholders in dividends? Issue $30 million in debt, pay $5 million to shareholders Issue $15 million in debt, pay $5 million to shareholders Issue $10 million in debt, pay $20 million to shareholders Issue $20 million in debt, pay $8 million to shareholders

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