Newkirk is considering the construction of a new facility in Oklahoma. The facility will cost Newkirk $$500$ million capital. The firm is considering a target debt$-$to$-$equity ratio of $0\mathrm{.}25$ for this project. Newkirk has two financing options: $1)$ corporate financing, where the debt capital needed comes from corporate debt; or $2)$ project financing, through nonrecourse debt of the new entity Oklahoma Plant. The company currently has total assets of $$1,800$ million, including $$800$ million of debt and $$1,000$ million of equity. Prepare abbreviated balance sheets for the following:

a$.$ Newkirk before the investment of the facility;

b$.$ Newkirk after the investment of the facility if corporate financing is used;

c$.$ Newkirk and the Oklahoma Plant, if project financing is used.