The M& M capital structure theories argue that the optimal long-term debt is not 0.0% debt due to the tax shield benefit of debt. Yet many small and large technology firms, including firms such as Facebook,Alphabet (Google), and Apple, do not use any long-term debt to finance their operations and new investments. Please explain whether it makes financial sense for technology firms to use no debt and give upthe tax shield benefit of debt.You would want to use your understanding of capital structure material, especially signaling theory,R&D under asymmetric information theory,financial distress costs, and debt tax shield in your answers.