PMF, Inc. is equally likely to have EBIT this coming year of $0 million, $10 million, or $20 million. Its corporate tax rate is 38%, and investors pay a 15% tax rate on income from equity and a 45 % 45% tax rate on interest income. a. What is the effective tax advantage of debt if PMF has interest expenses of $0 million this coming year? b. What is the effective tax advantage of debt for interest expenses in excess of $20 million? (Ignore carryforwards). c. What is the expected effective tax advantage of debt for interest expenses between $0 million and $10 million? (Ignore carryforwards). d. What level of interest expense provides PMF with the greatest tax benefit?