For which of these firms would Modigliani$-$Miller do the best job of explaining their capital structure choices?

Group of answer choices

A firm that only invests in very long term investments

A firm in financial distress

A firm whose choice of projects is heavily influenced by the financing options available to them

A firm whose shares are very inconvenient to buy or sellModiglinani$-$Miller holds, how much would replacing $6$ million dollars worth of equity financing with perpetual debt financing increase the value of your firm if your tax rate is $4\%?$ Please report your answer to the nearest dollar.