(e) Your company has hired a financial consultant to better understand whether and how your company's capital structure, which only includes equity, can be enhanced. The consultant is convinced that your company should significantly increase leverage to a very high level and borrow as much as possible. The consultant's conviction is based just on two considerations: - The effective tax advantage of debt (T) is positive; - Since T is positive, the value of your company is positively related to the level of debt. In your opinion, is the consultant's analysis logically sound and comprehensive enough to provide reliable advice? If not, what is missing from the analysis? Provide some brief suggestions as to how the analysis could be improved. [Word limit: 300 words] (15 marks)