Assume markets are perfect and that Geralt lnc$.$ has assets that will generate eash flows of either $$100$ million or S$300$ million a year from today,

$4.$ What are the possible payolts to Geralt's investors if it has only issued equity and no debt?

b$.$ What are the possible payolls to Geralt's investors if Geralt has issued debt that matues for slou million a year from today in addition to its equity?

c$.$ What are the possible payofls to Geralt"s investors if Gerali has issued debt that matures for $$150$ million a year from today in addition to its equity?

d$.$ What conclusions can we draw about the rates of return on the bonds in parts $"$b$"$ and $"$e$"?$