QUESTION 11 Onlyland Inc. has only one asset - a plot of vacant land. Onlyland Inc. also has only one liability - debt of $15 million due in one year. If left vacant, the land will be worth $12 million in one year. Alternatively, Onlyland can develop the land at an upfront cost of $20 million. The developed land will be worth $37.5 million in one year. Suppose the risk-free interest rate is 2%, assume all cash flows are risk-free, and assume there are no taxes. a. If the firm chooses not to develop the land, the value of the firm's equity today is $ million. (Input number only as your answer. Round it to the nearest whole number.) The value of the firm's debt today is $ million. (Input number only as your answer. Round it to the nearest whole number.) b. Suppose the firm raises $20 million from equity holders to develop the land. If the firm develops the land, the value of the firm's equity is $ million. (Input number only as your answer. Round it to the nearest whole number.) The value of the firm's debt today is $ million. (Input number only as your answer. Round it to the nearest whole number.) million. (Input number only as your answer. c. If equity holders decide not to develop the land, the agency cost (value destroyed) is $ Round it to the nearest whole number.)