P.T. Perfect is a company whose funding comes one hundred percent from equity capital (unlevered) with a market value of IDR 120 billion, divided into 10 million shares. The company's operating profit (EBIT) is IDR 15 billion per year and is assumed to be the same in perpetuity. 25% corporate income tax. P.T. Sempurna plans to change its capital structure by issuing long-term bonds worth IDR 40 billion with a coupon of 8% per year and will use all of these funds to buy back the company's shares, so that it becomes a levered company. The company plans to maintain this capital structure in perpetuity. a. What is the company's expected return on stock (ROE) before the company announces its plan to change its capital structure? b. Make a company's balance sheet at market value as soon as the company announces plans to change its capital structure? What is the value of the shares per share? c. Compile the company's balance sheet at market value after the company has made changes to its capital structure. How many shares are outstanding? d. What is the company's expected return on stock (ROE) after its capital structure changes? Compare it with before the capital restructuring. e. Explain what conclusions you can draw from the results of the calculations above. La Display Settings Focus 2