3. IHM Inc. has no debt and 100,000 shares of common equity outstanding. Management are considering replacing 20,000 shares with $2.0 million long-term debt at 6%. Their objective is to increase earnings per share (EPS) by reducing the number of shares out- standing. The company's tax rate is 20%. d. What is the present value of the ITS you computed in 3.c., above. e. What would be the resulting leveraged value of the company's assets (i.e., the leveraged enterprise value)? f. What would be the resulting leveraged value of the company's equity? 3. IHM Inc. has no debt and 100,000 shares of common equity outstanding. Management are considering replacing 20,000 shares with $2.0 million long-term debt at 6%. Their objective is to increase earnings per share (EPS) by reducing the number of shares out- standing. The company's tax rate is 20%. d. What is the present value of the ITS you computed in 3.c., above. e. What would be the resulting leveraged value of the company's assets (i.e., the leveraged enterprise value)? f. What would be the resulting leveraged value of the company's equity