The three firms have the same level of total assets and expected net operating profit after taxes (NOPAT), but they differ on two critical characteristics: total debt and the standard deviation of expected NOPAT. The following outlines some of Firm Sunny Co, Nigel's Health Food Co. and Absolute Co.'s characteristics Sunny Co Nigel's Health Food Co. Absolute Co. Total assets $4,800,000 $4,800,000 $4,800,000 Total debt $2,400,000 $960,000 $1,500,000 Expected NOPAT $1,152,000 $1,152,000 $1,152,000 Standard deviation of expected NOPAT S 321,600 $206,400 $ 420,120 B 14 15 Which firm has more financial risk? Nigel's Health Food Co. 20 21 Absolute Co OSCO