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QUESTION
Which one of these proposes that the value of a levered firm exceeds the value of an unlevered firm by the present value of the tax shield?
Which one of these proposes that the value of a levered firm exceeds the value of an unlevered firm by the present value of the tax shield?
Multiple Choice
- MM Proposition I, without tax
- MM Proposition I, with tax
- MM Proposition II, without tax
- MM Proposition II, with tax
- MM Proposition I, with and without taxes
