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6. a) We know that bankruptcy leads to high legal fees. However, what are the direct and indirect costs of financial distress before a company

6. a) We know that bankruptcy leads to high legal fees. However, what are the direct and indirect costs of financial distress before a company gets to the point of declaring bankruptcy?

b) Why do some academics and finance professionals say paying out a dividend is pointless? What would be their argument? How else can they return money to the shareholder?

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