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ABC Inc has no debt on its balance sheet in 2019. The firm paid $1.6 billion in taxes. Assume that ABC's marginal tax rate is

ABC Inc has no debt on its balance sheet in 2019. The firm paid $1.6 billion in taxes. Assume that ABC's marginal tax rate is 35% and its borrowing cost is 7%. Also, ABC's investors pay a 15% tax rate...

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