8. Tax shields (S17-1) The trouble with MMs argument is that it ignores the fact that individuals...

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8. Tax shields (S17-1) “The trouble with MM’s argument is that it ignores the fact that individuals cannot 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.

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Principles Of Corporate Finance

ISBN: 9781264080946

14th Edition

Authors: Richard Brealey, Stewart Myers, Franklin Allen, Alex Edmans

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