Use your Black-Scholes option pricer to calculate the implied debt-equity correlationof Eurotunnel if its market value of equity was GBP 130.71 MM instead of GBP 150MM. (Hint: Since volatility is a function of correlation you will need to create thatfunction and then use Goal Seek to find the correlation that causes your equity price tomatch the market price of equity.)

David paid $975,000 for two beachfront lots in coastal south carolina, with the intention of building residential homes on each. two years later, the south carolina legislature passed the beachfront management act, barring any further development of the coast, including david's lots. when david files a complaint to seek compensation for his property, south carolina refuses, pointing to a passage in david's own complaint that states "the beachfront management act [was] properly and validly designed to south carolina's " is south carolina required to compensate david under the takings clause?