Please Help...

1. List and briefly describe the three key assumptions in Modigliani and Miller'sProposition 1 that are required for total firm value to be independent of capitalstructure.
2. Evaluate the statement that the Weighted Average Cost of Capital (WACC) for afirm(assumingthatallthreeassumptionsofModiglianiandMiller'spropositionshold)isalwayslessthanorequaltothecostofequityforthefirm.
3. If the value of the firm remains constant as a function of its capital structureand the three Modigliani and Miller assumptions apply, how might the overallcostofcapital changeor notchangeascapital structurechanges.
4. Observe the WACC for a firm where taxes are a reality. By taking the formulaliterally, explain what a firm's best course of action would be to minimise itsWACCand thereby maximizethefirmvalue.
5. TheModiglianiandMillerpropositions,whentheno-taxassumptionisrelaxed,suggestthatthefirmshouldfinanceitselfwithasmuchdebtaspossible. If we take that suggestion to the fullest extent, does that mean itwouldbepracticalto financethefirmwith100percentdebtandno equity?

Thank You