At time-O, Firm A possesses one asset. The asset value in time-1 is equal to 110 in state one and 44 in state two. Both states are equally likely. Firm A contains one debt with face value equal to 66. The debt matures in time-l. Risk Free rate is equal to 10% All investors are risk neutral. Suppose there is a new investment opportunity, Project A. Firm A can invest 60 and the payoff of this investment is equal to 77 in state one and 66 in state two (Note that the states of Project A are the same as the states of Firm A's asset). Firm A has no cash in hand. 13) To finance Project A. suppose Fimm A issues junior debt. What is the value of equity at time-o? A) 10 B) 15 C) 20 D) 25 E) None of the above 14) To finance Project A, suppose Firm A issues junior debt. What is the payoff to junior debt holder in state one? A) 66 B) 77 C) 88 D) 99 E) None of the above