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If an airline began to experience reductions in ticket sales associated with news of its difficulty in servicing its debt (making debt payments), this would

If an airline began to experience reductions in ticket sales associated with news of its difficulty in servicing its debt (making debt payments), this would be an example of

a. agency problems

b. a tax shield

c. financial distress

d. managerial entrenchment

e. the pecking order view of capital structure

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