Hello,

Can you please answer the following questions in the attachment?

Please read the mini cases and answer the following mini case questions below in APA format with complete sentences and academic vocabulary. Mini Case-1 (15) Assume you have been hired as a business manager of Pizza Palace, a regional restaurant chain. The company's EBIT 50 million last year and is not expected to grow. The firm is currently financed with all equity , and it has 10 million shares outstanding. When you took your corporate finance course, your instructor stated that most firms owners would be financially better off if the firm used some debt. When you suggested this to your new boss, he encouraged you to pursue the idea. As a first step, assume that you obtained from the firm's banker the following estimated cost of debt for the firm at a different capital structure: Percent Financed with Debt, w d 0% 20 30 40 50 Rd 8.0% 8.5 10.0 12.0 If the company were to recapitalize, then debt would be issued and the funds received would be used to repurchase stock. PizzaPalace is in the 40% state-plus federal corporate tax bracket, its beta is 1.0 the risk-rate is 6%, and the market risk premium is 6%. Questions A). Using the free cash flow valuation model, show the only avenues by which capital structure can affect value. B). 1. What is business risk? What factors can influence a firm's business risk? 2. What is operating leverage and how does it affect a firm's business risk? Show the operating break-even point if a company has fixed costs of $200, a sales price of $15, and variable cost of $10. Using the mini case information, write a 250-500 word recommendation of the financial decisions you propose for this company based on an analysis of its capital structure and capital budgeting techniques. Mini Case-2 (14) Integrated Waveguide Technologies, Inc. (IWT) is a 6-year old company founded by Hunt Jackson and David Smithfield to exploit metamaterial plasmonic technology to develop and manufacture microwave frequency directional transmitters and receivers for use in mobile Internet and communication applications. ITW's technology, although highly advances, is relatively inexpensive to implement , and its patented manufacturing techniques require little capital as compared to many electronics fabrication venture. Because of the low capital requirement, Jackson and Smithfield have been able to avoid issuing new stock and thus own all of the shares. Because of the explosion in demand for its mobile Internet applications, ITW must now access outside equity capital to fund its growth, and Jackson and Smithfield have decided to take the company public. Until now, Jackson and Smithfield have paid themselves reasonable salaries routinely reinvested all after-tax earnings in the firm, so dividend policy has not been an issue. However, before talking with potential outside investors, they must decide on a dividend policy. Your new boss at the consulting firm Flick and Associates, which has been restrained to help IWT prepare for its public offering, has asked you to make a presentation to Jackson and Smithfield in which you review the theory of dividend and policy and discuss the following issues. Questions A). 1. What is meant by the term \" distribution policy\"? How has the mix of dividend payouts and stock repurchases changed over time? 2. The terms \"irrelevance\