Flynn Ltd has a $20 million loan due at the end of the year and under its current business strategy its assets will have a market value of only $15 million when the loan comes due. Flynn is considering a new, much riskier business strategy. While this new riskier strategy can be implemented using Flynn's existing assets without any additional investment, the new strategy has only a 40% probability of succeeding. If the new strategy is a success, the market value of Flynn's assets will be $30 million, but if the strategy fails, the assets will be worth only $5 million. What is the expected payoff to equity holders under Flynn's new riskier business strategy? Question 13Answer a. $20 million b. $15 million c. $11 million d. $4 million