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Provide Modigliani and Millers explanation of how debt affects firm value and the WACC. Begin with the perfect (no taxes) case and expand it to

Provide Modigliani and Millers explanation of how debt affects firm value and the WACC. Begin with the perfect (no taxes) case and expand it to the world with taxes and use at least 2 graphs for the no tax case and 2 graphs for the taxes case. Be sure to explain what is in the graphs.

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