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QUESTION 16 A positive NPV project requires a $20M investment. What market friction would lead a shareholder to prefer that the firm issue shares instead

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QUESTION 16 A positive NPV project requires a $20M investment. What market friction would lead a shareholder to prefer that the firm issue shares instead of debt to fund the project? Agency O Taxes Bankruptcy Costs QUESTION 17 Due to concerns, a dividend being lower than expected can send a negative signal to investors. o agency bankruptcy costs O tax-related

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