The assets of PSK Industries will have a market value of $$75$ million in one year with a probability of $60\%.$ In the alternative scenario, the assets will have a value of $$15$ million. PSK Industries$$ current cost of capital for its assets is $12\%$ and the current risk$-$free rate is $6\%.$ a$.$ If PSK is an all$-$equity firm, what is the current market value of its equity? b$.$ Now assume that PSK has a debt which has a face value of $$26\mathrm{.}5$ million due in one year. According to MM$,$ what is the value of PSK$$s equity in this case? c$.$ What is the expected return of PSK$$s equity without leverage? d$.$ What is the expected return of PSK$$s equity with leverage?