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3. A review of the degree of financial leverage (DFL) It is December 31. Last year, Water and Power Company (WaP) had sales of $80,000,000, and it forecasts that next year's sales will be 586,400,000. Its fixed costs have been-and are expected to continue to be $44,000,000, and its variable cost ratio is 10,00%. Wsip's capital structure consists of a $15 million bank loan, on which it pays an interest rate of 12%, and 5,000,000 shares of outstanding common equity, The company's profits are taxed at a marginal rate of 35%, The following are the two principal equations that can be used to caiculate a firm's DFL value: Given this information, complete the following sentences: - The company's percentage change in EBIT is - The percentege change in WBP's earnings per share (EPS) is - The degree of financial leverage (DFL) at $B6,400,000 is -(Hint: Use the changes in EPS and EBIT that you computed to determine DFL.). Consider the following statement about OFL, and indicate whether or not it is correct. Given this information, complete the following sentences: - The company's percentage change in EBIT is - The percentage change in WsP's earnings per share (EPS) is - The degree of financial leverage (DFL) at $86,400,000 is - (Hint: Use the changes in EPS and EBIT that you computed to determine DFL.) Consider the following statement about DFL, and indicate whether or not it is correct. All other factors remaining constant, the larger the proportion of common equity used by the firm in its capital structure, the smaller the firm's DFL. False True Given this information, complete the following sentences: - The company's percentage change in EBIT is - The percentage change in W\&P's earnings pe S) is - The degree of financial leverage (DFL) at $86 20.57% (Hint: Use the changes in EPS and 24.68% Consider the following statement about DFL, an 18.51% whether or not it is correct. All other factors remaining constant, the larger the proportion of common equity used by the firm in its firm's DFL. False True Given this information, complete the following sentences: - The company's percentage change in EBIT is - The percentage change in W\&P's earnings per share (EPS) is - The degree of financial leverage (DFL) at $86,400,000 is 1.C nt: Use the changes in EPS and EBIT that you com Consider the following statement about DFL, and indicate whet is correct. All other factors remaining constant, the larger the proportion of common equity used by the firm in its capital structure, firm's DFL. False True Given this information, complete the following sentences: - The company's percentage change in EBIT is - The percentage change in W\&P's earnings per share (EPS) is - The degree of financial leverage (DFL) at $86,400,000 is (Hint: Use the changes in EPS and EBIT th Consider the following statement about DFL, and indicate w 2.71 pr not it is correct. 2.57 1.05 All other factors remaining constant, the larger the proporwoirof common equity used by the firm in its capita firm's DFL. False True