Abacus Corp. and Calculator Inc. have identical assets that produce an identical, perpetual cash flow of 20 million per year. Both companies have 20 million shares outstanding. However, Calculator Inc. has issued 100 million in perpetual risk-free debt, while Abacus Corp. has no debt. The risk-free interest rate is 5 per cent and the price of Calculator's shares is 5. Given the assumptions of Modigliani and Miller's analyses without taxes. (a) Calculate the price of Abacus' shares. . (b) Show how the payoff of an investment in shares of Abacus can be replicated by an investment in Calculator plus risk-free borrowing or lending. (c) Show how the payoff of an investment in shares of Calculator can be replicated by an investment in Abacus plus risk-free borrowing or lending. (d) Use Modigliani-Miller proposition 2 to calculate the required return on Calculator's shares. Check your results with an alternative calculation.