Problem 2. Suppose that a firm's cash flow next year, X1, is expected to be $20 and will remain unchanged for the foreseeable future. The appropriate rate for discounting the cash flows is 10% per annum. The firm currently pays out all its cash flows each period as dividends. Management has decided to pay a special dividend of S40 immediately (to) and again in one year (+1). (a) If the special dividends are to be financed via the issuance of shares to new equityholders, what proportions of shares will have to be sold to them at to and t?? (b) What are firm value and the value of existing equityholders' claims after the second special dividend? Problem 2. Suppose that a firm's cash flow next year, X1, is expected to be $20 and will remain unchanged for the foreseeable future. The appropriate rate for discounting the cash flows is 10% per annum. The firm currently pays out all its cash flows each period as dividends. Management has decided to pay a special dividend of S40 immediately (to) and again in one year (+1). (a) If the special dividends are to be financed via the issuance of shares to new equityholders, what proportions of shares will have to be sold to them at to and t?? (b) What are firm value and the value of existing equityholders' claims after the second special dividend