Modgliani and Miller's mathematical model included a number of restrictions on the behavior of firms and individuals that made the model not very realistic. Those restrictions included: a. The assumption that there are no income taxes. b. The assumption that securities trade in perfectly efficient capital markets in which there are no transactions costs. c. The assumption that investors and firms can borrow as much as they want at the same rate. d. All of the above e. A & B only f. B & C only

Explanations and conclusion please