An enterprising Kenyan Dairy Firm has collected the following data with respect to its capital structure, expected earnings per share, and required return. Capital structure Debt ratio 0% 10 20 30 40 50 60 Expected earnings Per share SHs3.12 3.90 4.80 5.44 5.51 5.00 4.40 Required return Ks 15 16 17 19 20 22 13% a) Compute the estimated share value associated with each of the capital (7 marks) structures. b) Determine the optimal capital structure on the basis of: i. Maximization of expected earnings per share. ii. Maximization of share value. (4 marks) c) Which capital structure would you recommend in (b) above and why? (4 marks)