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For both: Ebitda: 1 0 0 , FCFF: 5 0 and debt repayment: 3 0 p . a . Firm 1 : Standard deviation of

For both: Ebitda: 100, FCFF: 50 and debt repayment: 30 p.a.
Firm 1: Standard deviation of FCCF: 10,
Firm 2: Standard deviation of FCFF: 30,
Which one is the most exposed to Financial risk?

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