Part 2. Open-answer questions (50 points in total). Write down explicitly your reasoning process and show your calculations 1. (15 points, 5 points each) Short-answer questions. Explain your answers! (a) True or false. Pecking order theory primarily focuses on the financial distress costs associated with debt financing. Explain! (b) Explain the concept of real options in investment projects (c) Explain the concept of Efficient Market Hypothesis and the relation between the efficient markets and alpha