$3.$ This question refers to the Wrigley case.

Throughout, you may assume that personal tax rates on dividends and equity are the same. However, if you are so inclined, you can try to use a more realistic set of assumptions.

$3($a$).$ Assume there is no disadvantage to debt. How much value can be created for investors $($debtholders and equityholders combined$)$ if Wrigley recapitalises as proposed?

$3($b$).$ Should Wrigley recapitalise as proposed? Are they any potential disadvantages to the change?