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13. Which one of the following statements is NOT a part of M&M assumptions? A. Investors have homogeneous expectations about future cash flows B. Bonds

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13. Which one of the following statements is NOT a part of M&M assumptions? A. Investors have homogeneous expectations about future cash flows B. Bonds and stocks trade in perfect markets C. Investors can borrow and lend at the same rate D. Investments and financing decisions are independent of one another E. There are agency costs

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