Please write down the process step by step.

4. Air Tampa offers commuter air services between Tampa and smaller surrounding cities. Air Tampa uses zero debt and its total book value and market value of the stocks is $10 million. Its tax rate is 40%. Air Tampa's un-leveraged beta is 1.8. Air Tampa is considering three capital structures: (1) $2 million debt, (2) $4 million debt, and (3) $6 million debt. Assume that cost of debt is 10% for all