(b) The following financial information is from a valuation of Appeal Limited. Appeal Limited (NZD m) Intrinsic Value of the Firm Intrinsic Value of Debt Cost of Debt Capital (before taxes) Equity Beta Tax rate Risk-free rate of return Market risk premium 2020 $ 1,500 $ 900 4% 1.20 28% 1% 10% REQUIRED: (i) Calculate: the 2020 Intrinsic Value of Equity, the Cost of Equity Capital, the Weighted Average Cost of Capital. . . (3 marks) (ii) Now assume that Appeal Limited borrowed an additional $100m and invested this into the operations (yielding the same risk and return as the existing operations). Briefly explain (no calculations required) what effect (increase, decrease, or no effect) this transaction would have on the Intrinsic Value of Equity, the Cost of Equity Capital, the Weighted Average Cost of Capital