Acort Industries owns assets that will have an 80% probability of having a market value of $50 million in one year. There is a 20% chance that the assets will be worth only $20 million. The current risk-free rate is 5%, and Acort’s assets have a cost of capital of 10%. a. If Acort is unlevered, what is the current market value of its equity?
b. Suppose instead that Acort has debt with a face value of $20 million due in one year.. According to MM, what is the value of Acort’s equity in this case?
c. What is the expected return of Acort’s equity without leverage? What is the expected return of Acort’s equity with leverage?
d. What is the lowest possible realized return of Acort’s equity with and without leverage?

A- the queen isn’t specified which one so its to capitalized same with nuclear reactors and atomic power plant (aka they aren’t proper nouns)

Secured loans are protected by collateral security. examples: title loans where the borrower uses the car title as collateral security interest rates are lower and repayments are longer therefore risk is low as a collateral security is given as guarantee to the bank in case of failure to pay the loanunsecured loans are not protected by collateral security but it is given on the creditworthiness of the borrower, trusting that she/he will pay on time. examples; payday loans is a short term loan where the borrower lends money from the bank and pays is back when the borrower receives his/her wages.interest rates are high and repayments are shorter. but the risk is high as no collateral security is given as a guarantee to the bank for payment of the loan

In line with other previous and contemporaneous proposals, in 1912 the meteorologist  alfred wegener  amply described what he called continental drift, expanded in his 1915 book the origin of continents and oceans and the scientific debate started that would end up fifty years later in the theory of plate tectonics.