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a. Which project has the highest expected payoff? d. If management chooses the strategy that maximizes the payoff to equity holders, what is the expected

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a. Which project has the highest expected payoff? d. If management chooses the strategy that maximizes the payoff to equity holders, what is the expected agency cost to the firm from $40 million in debt What is the expected agency cost to the firm from having $110 million in debt due

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