Assume that the systematic risk of a project is the same as that of the existing capital assets of a firm and the firm maintains the same capital structure overtime. The beta of the firm's current capital assets is 1.6. Find the project beta and equity beta in each of the following situations: (Assume zero preferred stock) a) The firm's debt level is zero: b) The firm's debt proportion is 20% and bond beta is zero and: c) The firm's debt proportion is 60% and bond beta is 0.4. Secondly assume that market risk rate = 0.1; risk-free rate =.03. In situations (b) and (c) above, calculate the required expected rates of return on firm's equity and debt.