Executive Chalk is financed solely by common stock and has 25 million shares outstanding with a market price of $10 a share. It announces that it intends to issue $160 million of debt and use the proceeds to buy back common stock. Assume that the MM assumptions hold (i. e., no taxes, no costs of financial distress). a) What is the value of the firm before and after the proposed capital structure change

Heather has been an active participant in a defined benefit plan for 19 years. during her last 6 years of employment, heather earned $42,000, $48,000, $56,000, $80,000, $89,000, and $108,000, respectively (representing her highest-income years). calculate heather’s maximum allowable benefits from her qualified plan (assume that there are fewer than 100 participants). assume that heather’s average compensation for her three highest years is $199,700. calculate her maximum allowable benefits.