3. A company is exploring how to finance its expansion plans. It has the following options: a. Retain more of its net earnings. b. Borrow/issue more debt C. Issue additional shares or raise more equity (season public offerings) d. A combination of all the above. The financing decision of long-term projects is crucial because of agency relationships. Explain the role of information asymmetry and the agency problem in the financing of long-term plans of a company. In your briefing note your task is to make the board members of the company understand the implications of each form of financing