a$.$ Explain the Modigliani$-$Miller Theorem and its implications for corporate finance. What are the key assumptions underlying this theorem, and how do they affect the real$-$world applicability of its conclusions?

b$.$ You have been appointed the general manager of Blaze motors, the company is in financial distress, and as part of your core functions you are required to raise funds to support the activities of the company. Discuss the sources of long$-$term finance to the company and the disadvantages of each source to the company.