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M & M Proposition II says that the WACC is not influenced by changing the mix of debt and equity because changes in leverage cause

M & M Proposition II says that the WACC is not influenced by changing the mix of debt and equity because changes in leverage cause an offsetting change in the __________.

a. WACC

b. required return on equity

c. target leverage zones

d. secured debt hypothesis

e. none of the above

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