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Agency cost include all of the following EXCEPT: Monthly salaries of management Performance incentives paid to managers. The cost of monitoring behavior. Purchasing insurance against

Agency cost include all of the following EXCEPT:

  1. Monthly salaries of management

  2. Performance incentives paid to managers.

  3. The cost of monitoring behavior.

  4. Purchasing insurance against management misconduct.

  5. Bonding and structuring expenses.

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