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According to the pecking order theory, a company will choose its capital structure: a. Based on a rigorous analysis of financial statements b. Based on

According to the pecking order theory, a company will choose its capital structure:

a. Based on a rigorous analysis of financial statements

b. Based on the optimal debt/equity ratio

c. Based on the dividend policy of the firm

d. Based on the expectations of shareholders

e. None of the above.

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