12. Old School Corporation expects an EBIT of $23,750 every year forever. Old School currently has no debt, and its cost of equity is 15 percent. The firm can borrow at 9 percent. If the corporate tax rate is 35 percent. (Do not round intermediate calculations. Round the final answers to 2 decimal places. Omit $ sign in your response.) a. What is the value of the firm? b-1. What will the value be if Old School converts to 60 percent debt? b-2. What will the value be if Old School converts to 99 percent debt?