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Question 2-(20 Marks) a) Distinguish between the following types of financial markets: i. Debt and Equity markets ii. Primary and Secondary markets iii. Exchanges

Question 2-(20 Marks) a) Distinguish between the following types of financial markets: i. Debt and Equity markets ii. Primary and Secondary markets iii. Exchanges and Over-the-counter markets (4 marks) (4 marks) (4 marks) b) Explain and distinguish between the Pecking Order and Trade-off theories of capital structure (8 marks)

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