#$2.$ Wolverine Corp. has $2$ large divisions that we will refer to as division $x$ and division $Y.$

As stand$-$alone divisions, analysts estimate that division $x$ is worth $$200$ million and division $Y$

is worth $$100$ million. Wolverine Corp. can either keep the firm intact, spinoff division $Y,$ or

sell division $Y.[$Ignore any tax issues$]$

$($a$)$ If the market value of Wolverine is currently $$280$ million, what is the lowest price they

would be willing to accept in an asset sale?

$($b$)$ If the market value of Wolverine is currently $$300$ million, what is the lowest price they

would be willing to accept in an asset sale?

$($c$)$ If the market value of Wolverine is currently $$320$ million, what is the lowest price they

would be willing to accept in an asset sale?