6. Answer THREE PARTS from this question. (1) What are the main differences between equity finance and debt finance? (II) Explain why a deeply indebted company might not be able to obtain equity finance even for a positive net present value project. (it) Discuss ways of resolving the principal agent problem between shareholders and managers. (iv) Discuss the reasoning that a firm's directors might use in deciding the level of the dividend. (V) Compare the trade-off theory of capital structure with the pecking order theory. (V1) Discuss how the theory of a real call option might be relevant for firm decision- making