Ceyhan A.. with a capital of 1.600.000 TL, with a nominal value of 1 TL in circulating stocks, finances a new investment project of 350.000 TL either by issuing 40% bonds or by issuance of a new share with a nominal value of 1 TL. thinks to. Assuming that the tax rate to which the relevant company is subject is 20%;

a) Identify the indifference point of the project financing alternatives

b) Find the profit per share at the point of indifference and show the result on a graph