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Explain Millers Model of levered firm value with personal taxes. Under what conditions in terms of personal tax rates on stock and bond income would

Explain Millers Model of levered firm value with personal taxes. Under what conditions in terms of personal tax rates on stock and bond income would Millers Model reduce to the Modigliani and Miller Model without corporate taxes? Under what tax rate conditions would the Miller model reduce to the Modigliani and Miller Model with corporate taxes?

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