3) Macbeth Spot Removers (MSR) is an all equity financed firm, with 1000 outstanding stocks and market value per share =$10. Determine the spread of expected return per share between the super-optimistic scenario (earnings =$2000 ) and the pessimistic scenario (earnings =$800 ). a. Spread =22% b. Spread =32% c. Spread =17% d. Spread =12% 4) (Continuation) Do the same computation but now assuming that the firm is financed 80 percent with debt, at a cost of 10 percent per year. a. Spread =60% b. Spread =50% c. Spread =40% d. Spread =30% 5) (Continuation) Determine the value of the stock in the most optimistic scenario assuming 80 percent debt financing. a. $6/0.06=$100 b. $3/0.1=$30 c. $3/0.3=$10 d. $6/0.6=$10