please dont copy other answers they are wrong

The possible outcomes of a firm's value at time 1 are as below. At time 1, the debtholders are entitled $8 M payment from the firm. In other words, the firm owes its bondholders $8 M at time 1. a. Please fill out the payoffs to bondholders and stockholders at each outcome. Probability Firm Value Value of stake of Value of stake of lat Time 1 Bondholders Stockholders 1096 $6M 1596 58M 14596 $15M 3096 $20M b. What is the expected value of the firm at time 1? c. What is the expected value of the stake of bondholders at time 1? d. What is the expected value of the stake of the stockholders at time 17