5. Corporate Finance (22 marks) A. What is meant by Seniority in terms of debt? (5 Marks) B. Briefly discuss two areas that fall under Behavioral Finance. (4 marks) C. Using the following identity, use Unlevering and Relevering to obtain an expression for the Equity Beta. (6 marks) a=eE+DE+dE+DD - MM 1958 theorem 3 D. For a lender what is the goal of credit rationing and how does lender ensure that the creditor does the right thing, you may use an example to illustrate (4 marks) E. How does a Dividend differ from a Share Buyback