A firm has $135$M of outstanding bonds originally issued at t$=1($last year$)$ and maturing at t$=1($next year$).$ The firm has $30$M in cash today. It must decide whether to invest the $30$M $($in which case it receives $35$M at t$=1)$ or pay it as a dividend. The value of the firm$$s assets at t$=1$ is random and equal to $150$ or $100$ with equal probability. What is the value of equity if the firm pays the dividend? What is the value of the equity if the firm does the project?