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A firm is in a worid with (a) taven, fo) conts of firanclai distress, (c) agency conticit buetween debe and equity holiders, and (d) agency

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A firm is in a worid with (a) taven, fo) conts of firanclai distress, (c) agency conticit buetween debe and equity holiders, and (d) agency cortilicts between mansgers and equity holisers. Which of these factors is most ilialy to hurt frem value if a firm decides to incraase its levarage? to and all of them b and e h. b. and c teand b

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