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8. During a group discussion on financial theories, a classmate raises a question, According to MM, WACC is unchanged in a perfect capital market. Why

8. During a group discussion on financial theories, a classmate raises a question, "According to MM, WACC is unchanged in a perfect capital market. Why is that? Explain." How would you respond to this inquiry? Provide sufficient details to ensure your classmate gains a clear understanding of both MM propositions as well

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