Show that when / and g provide income at rates qf and qa, respectively, equation (21.15) becomes

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Show that when / and g provide income at rates qf and qa, respectively, equation (21.15)

becomes KQTJ

(Hint: Form new securities /* and g* that provide no income by assuming that all the income from / is reinvested in / and all the income in g is reinvested in g.)

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