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Please explain your choice. Which of the following debt instruments is likely to be the most junior in a company's capital structure? A. A conventional

Please explain your choice.
Which of the following debt instruments is likely to be the most junior in a company's capital structure? A. A conventional loan not secured by any collateral B. A convertible bond C. A securitization of the company's receivables D. A senior bond secured by a second lien on the company's headquarters

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