3. Ice-Lane and Ice-Land are two publicly traded fresh-beverage producing companies. Since the underlying risk exposure of both companies is identical, their asset beta will also be equal. However, both companies differ in their capital structure. Ice-Lane has a D/E of 0.5, beta of levered equity is 1.5, while the market risk-premium is 6.0% and the risk-free rate is 4.0%. Assume all debt is risk free and issued at the risk-free rate. Further assume M&M world without taxes. What is Ice-Lane's return on levered equity? (please write to one-decimal place, without % sign) What is Ice-Lane' WACC? (please write to one-decimal place, without % sign) Suppose that Ice-Land has a target D/E of 0.8. What is Ice-Land's return on levered equity? (please write to one-decimal place, without % sign) What is Ice-Land's WACC? (please write to one-decimal place, without % sign)