The NPV rule can be applied to corporations as well as to individuals. The separation theorem developed

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The NPV rule can be applied to corporations as well as to individuals. The separation theorem developed in this appendix conveys that all of the owners of the fi rm would agree that the fi rm should use the NPV rule even though each might differ in personal tastes for consumption and savings. LO.1

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Corporate Finance

ISBN: 9780073105901

8th Edition

Authors: Jeffrey Jaffe, Bradford D Jordan

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