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I am currently working on the American Home Products Corporation case study, and I was asked to answer this: What is the nature of tax

I am currently working on the American Home Products Corporation case study, and I was asked to answer this:

What is the nature of tax benefit and its source? How does the size of tax benefit depend on the tax structure? My professor said to use tax-saving (traditional trade off theory, MM theory with TAX) to answer the question..

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