The two firms have the same level of total assets and expected net operating profit after taxes (NOPAT), but they differ in two critical characteristics: total debt and the standard deviation of the expected NOPAT. The following table outlines some of Purple Panda's and Orange Snail's major attributes: Total assets Purple Panda Manufacturing Company $4,400,000 $2,420,000 Orange Snail Production Inc. $4,400,000 $880,000 Total debt Expected NOPAT $1,056,000 $1,056,000 Standard deviation of expected NOPAT $171,600 $255,200 Use the given financial data to indicate which firm has the higher degree of each type of risk. Which firm has more business risk? O Purple Panda O Orange Snail Which firm has more financial risk? O Purple Panda O Orange Snail