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3.a. One of the frequently cited advantages of debt is the tax advantage. Explain some other advantages of debt. 3.b. Too much debt can lead

3.a. One of the frequently cited advantages of debt is the tax advantage. Explain some other advantages of debt.

3.b. Too much debt can lead to financial distress and the associated costs. What are the costs of financial distress? What are some other disadvantages of debt besides these costs?

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