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1. Debentures have first lien on a set of assets of the firm. True or False. 2. The Effective Annual Yield is usually lower than

1. Debentures have first lien on a set of assets of the firm. True or False.

2. The Effective Annual Yield is usually lower than the Bond Equivalent Yield. True or False

3. According to the CAPM, if the beta of debt equals zero, the expected return of risky debt will equal the risk free rate. True or False.

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