12. Consider the Merton capital structure model. (a) Show that the real-world) recovery rate (as a fraction of the face value) on the bond is of the form R= min (1, eb(X-c)) where c is the negative of the (real-world) distance to default, b = ovT and X = In(Vr/V)-(-02/2)T OVT (b) Derive an expression for the expected recovery rate E[RI[x