Question 3 (total of 12 marks): For each of the following events, state the effect on the firm's market value of fixed-coupon debt (D), market value of levered equity (EL), share price (P), number of shares (n), and market value of the firm's assets (VL). Important assumptions: The risky firm's levered assets currently have the same systematic risk as the market portfolio, all events happen in isolation and are a surprise, all transactions are done at a fair nrice. that there are no transaction costs no asvmmetric information (so Question 3 (total of 12 marks): For each of the following events, state the effect on the firm's market value of fixed-coupon debt (D), market value of levered equity (EL), share price (P), number of shares (n), and market value of the firm's assets (VL). Important assumptions: The risky firm's levered assets currently have the same systematic risk as the market portfolio, all events happen in isolation and are a surprise, all transactions are done at a fair nrice. that there are no transaction costs no asvmmetric information (so