QUESTION $6(15$ marks$)($a$)$ Distinguish between the following: Cost o Debt: Cost of Equity: Cost of Capital.Include in your answer. when should firms discount at cost of debt? cost of equity orcost of capital. What is the relationship between these?$(4$ marks$)($b$)$ It has been suggested that while debt is less isky than equity from the perspuctive ofan investor. it is riskier from the perspective of the firm. and vice versa for equity.What is your view? Explain.$(5$ marks$)($c$)$ A Firm has an asset base with a market value of $$17$ million. Its equity capital isworth $$5\mathrm{.}3$ million and its shareholders expect a retum of $18\%$ pa$.$ The firm also hasInterest of $8\%$ pa on its debt.$($i$)$ What is the weighted average cost of capital if corporate taxes are $35\%?(4$ marks$)$d$)$ discuss the disadvantages and advantages of using the Payback Period method in capital budgeting $(2$ marks$)$