For an investment of $$176,000,$ you start a firm named BriteWhite, a dental products company, that will either produce Free Cash Flows of either $$304,000($high state$)$ or $$187,000($low state$)$ at t$=1,$ both with equal probability, and nothing beyond that. The WACC for the firm is $10\%$ and the borrowing rate is $3\%.$

a$)$ What is the expected return for the new shareholder in the levered case $($in percentage points$)?$

$-$ the answer to A is $13\mathrm{.}91\%$ but I am unsure how to get to that answer.

b$)$For the shareholder, what is the spread or difference between the return of the high case versus the low case when the firm is levered?

$-$ the answer is $81\mathrm{.}71\%$ for quesrtion b and I am again unsure how to get to that answer.