a. What is the initial value of Gladstone's equity without leverage? Now suppose Gladstone has zero-coupon debt with a $100 million face value due next year. b. What is the inilial value of Gladstone's debl? c. What is the yield-to-maturity of the debt? What is its expected retum? d. What is the initial value of Gladstone's equity? What is Gladstone's total value with leverage? Suppose Gladstone has 10 million shares outstanding and no debt at the start of the year. e. If Gladstone does not issue debt, what is its share price? f. If Gladstone issues debt of $100 million due next year and uses the proceeds to repurchase shares, what will its share price be? Why does your answer differ from that in part (e)? a. What is the initial value of Gladstone's equity without leverage? The initial value of Gladstone's equity without leverage is : million. (Round to two decimal places.) Now suppose Gladstone has zero-coupon debt with a $100 milion tace value due next year. b. What is the initial value of Gladstone's debt? The initial value of Gladstone's debt is 4 million. (Round to two decimal places.) c. What is the yield-to-maturity of the debl? What is its expected return? The yield-to-maturity is %. (Round to two decimal places.) The expected return is \%. (Round to the nearest integer.) d. What is the irilial value of Gladstone's equity? The initial value of Gladstone's equity with leverage is $ million. (Round to two decimal places.) What is Gladstone's total value with leverage? Gladstone's total value with leverage is ? milion. (Round to two decimal places.) Suppose Gladstone has 10 million shares outstanding and no debt at the start of the year. e. If Gladstare does not issue debt, what is its share price? If Gladstone does not issue debt, the price is $ | per share. (Round to the nearest cent.) f. If Gladstone issues debt of $100 milion due next year and uses the proceeds to repurchase shares, what will its share price be? If Gladstone issues debt of $100 million due next vear and uses the prooeeds to repurchase shares, the price is \& per share