Acort Industries owns assets that will have arn) 90% probability of having a market value of $57 million in one year. There is a 10% chance that the assets will be worth only $27 million. The current risk-free rate is 12%, and Acorl's assets have a cost of capital of 24% a. If Acort is unlevered, what is the current market value of its equity? b. Suppose instead that Acort has debt with a face value of $26 million due in one year. According to M&M, what is the value of Acort's equity in this case? c. What is the expected return of Acort's equity without leverage? What is the expected return of Acort's equity with leverage ? d. What is the lowest possible realized retum of Acort's equity with and without leverage? a. If Acort is unlevered, what is the current market value of its equity? The current market value of the unlevered equity is $1 million. (Round to three decimal places.) b. Suppose instead that Acort has debt with a face value of $26 million due in one year. According to M&M, what is the value of Acort's equity in this case? According to M&M, the current market value of the levered equity is $ million (Round to three decimal places.) c. What is the expected return of Acort's equity without leverage? What is the expected retum of Acort's equity with leverage? The expected retum of Acort's equity for both cases is: Without Leverage: With Leverage: Expected Return % (Round to two decimal places.) % (Round to two decimal places.) d. What is the lowest possible realized retum of Acort's equity with and without leverage? The lowest possible realized return of Acort's equity in both cases will be: Realized Retum Without Leverage: % (Round to two decimal places.) With Leverage: % (Round to two decimal places.)