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Assume that both firm A and firm B formally agree to each put up $10 million to form firm C. The operations of firm C

Assume that both firm A and firm B formally agree to each put up $10 million to form firm C. The operations of firm C are restricted to conducting research and development activities for the benefit of firms A and B. Firm C is a _____ of firms A and B.

Select one:

a. Going-private transaction

b. leveraged buyout

c. Joint venture

d. Subsidiary

e. Conglomerate

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