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MM Proposition I without taxes is used to illustrate: capital structure changes have no effect on stockholders' welfare. All of these. leverage does not affect
MM Proposition I without taxes is used to illustrate: capital structure changes have no effect on stockholders' welfare. All of these. leverage does not affect the value of the firm. that one capital structure is as good as another. the value of an unlevered firm equals that of a levered firm.
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