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Category > Business & Finance Posted 29 Jul 2017 My Price 12.00

1. “The trouble with MM’s argument

1. “The trouble with MM’s argument is that it ignores the fact that individuals can deduct interest for personal income tax.” Show why this is not an objection if personal tax rates on interest and equity income are the same.

2. Look back at the Merck example. Suppose Merck increases its long-term debt to $10 billion. It uses the additional debt to repurchase shares. Reconstruct ( b ) with the new capital structure. How much additional value is added for Merck shareholders if the table’s assumptions are correct?

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Status NEW Posted 29 Jul 2017 03:07 PM My Price 12.00

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