15. Why does the marginal benefit of debt decline as the amount of debt on a firm's balance sheet rise? A. More debt means lower interest expense and lower probability of losses B. More debt means higher interest expense and higher probability of losses C. More debt means less deductibility per IRS codes D. More debt means greater likelihood of being delisted from a stock exchange E. None of the above 20. If a company has too little debt in its capital structure, then A. It is taking excessive interest expense deductions B. It has no non-debt tax shields C. It likely has too little equity D. It should increase its leverage E. None of the above