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Identify the blue vessel that the arrow points to. (Indicate if it is left or right)  

Identify the large blue vessel labeled ‘A’    

Identify structure “9”

Identify the blue vessel labeled ‘C’  (Indicate left or right)  

Give the name of the “blue” vessel labeled ‘A’       (Indicate left or right)  

Define the term “adaptive immune system”

Janice purchased 400 shares of a company whose capital structure is 40 percent debt. The company announced that it will sell new shares of stock to pay off all of its debt (that is, become unlevered). The value of the shares is $60 per share before and after the restructuring. How can Janice use homemade leverage to replicate the company’s old capital structure? Ignore taxes in your analysis.

The 10-year loan for a project we are evaluating requires $425,000 in flotation costs. These costs can be straight-line amortized over the life of the loan. If our cost of debt is 9 percent and our tax rate is 25 percent, what is the NPV of the flotation costs?

Cobalt Corp. has an unlevered value of $30 million and their debt has a market value $25 million. Their tax rate is 25 percent. Ignoring agency costs, what is value of the firm’s bankruptcy costs at this level of debt if the actual market value of the company is $29 million? (Hint: start with the M&M Propositions)

Janice purchased 200 shares of a company whose capital structure is 40 percent debt. The company announced that it will sell new shares of stock to pay off all of its debt (that is, become unlevered). The value of the shares is $60 per share before and after the restructuring. How can Janice use homemade leverage to replicate the company’s old capital structure? Ignore taxes in your analysis.