Suppose now the company has an investment opportunity that would acquire an investment of $10M now and would generate a sure payoff of $20M next year. b) (8 points) If the manager plans to finance the investment by issuing new equity shares, write down the payoffs in different states for the debt claim, the new equity claim and the old equity claim. What's the valuation of the old equity claim if the project is taken? Will the shareholders approve this financing plan