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By the pecking order theory of capital structure, which of these firms would be most likely to use equity financing? a. A firm with large

By the pecking order theory of capital structure, which of these firms would be most likely to use equity financing?

a. A firm with large stockpiles of cash

b. A firm with a high tax rate

c. A firm with highly risk-averse investors

d. A firm that has lost access to the bond market

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