7. ETV Holdings Co, holds a diversified portfolio of assets. The total value of ETV's assets is $300 million. The continuously compounded return on these assets is normally distributed, with a standard deviation of 25% per year. ETV is owned by three groups of investors: senior debt, with a face value of $150 million; junior debt, with a face value of $120 million; and equity. Both the junior and senior debt mature in four years, and neither will receive any interest payments before maturity. Covenants of the debt contracts prohibit Stevens from making any dividend payments before the junior and senior debt are paid in full. The annualized continuously compounded interest rate will be 5% for the next four years. a. Illustrate the payoff of the three ETV securities (equity, senior and junior debt) as a function of the firm value at maturity, use final payoff tables or graphs. b. What are the values of the three securities