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= Assume the following values: corporate tax rate = 0.28, personal tax rate on debt = 0.15, personal tax rate on equity = 0.05, unleveraged

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= Assume the following values: corporate tax rate = 0.28, personal tax rate on debt = 0.15, personal tax rate on equity = 0.05, unleveraged value for Miller = $100,000,000, debt value for Miller = $50,000,000, unleveraged equity rate of return 11.00%, cost of debt = 6.62%, and leveraged equity rate of return = 13.28%. What is the gain to leverage using the Miller equation? Under $10,000,000 Between $10,000,000 and $11,000,000 Between $11,000,000 and $12,000,000 Over $12,000,000

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