You are attempting to analyze the equity of Cisoft. Cisoft owns assets that will have a(n) 80% probability of having a market value of $47 million one year from now. There is a 20% chance that the assets will be worth only $17 million. The current risk-free rate is 12%, and Cisoft's assets have a cost of capital of 24%. a. If Cisoft has no debt, what is the current market value of its equity? b. Suppose instead that Cisoft has debt with a face value of $11 million due in one year. According to MM, what is the value of Cisoft's equity in this case? c. What is the expected return of Cisoft's equity without leverage? What is the expected return of Cisoft's equity with leverage? a. Current market value of the unlevered equity is $ million. (Round to three decimal places.) b. Current market value of the levered equity is $ million. (Round to three decimal places.) c. The expected return of Cisoft's equity for each case is