A company needs $200,000 to fund a new project next year. The firm expects to earn excess cash of $75,000 this year after all expenses, taxes, and dividends are paid. The form can borrow up to $150,000 at 6.5 percent interest for up to ten years or, it can issue up to 25,000 new shares of stock that will have an estimated value of $35 a share at the end of this year. According to the pecking- order theory, how much will the firm raise in new equity capital to fund this project? $0 $200,000 O $50.000 $125.000