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Ski and Board are two identical firms of identical size operating in identical markets. Ski is unlevered with assets valued at $ 1 5 0
Ski and Board are two identical firms of identical size operating in identical markets. Ski is unlevered with assets valued at $ and has shares of stock outstanding. Board also has $ in assets and has $ in debt financed at an interest rate of and has shares of stock outstanding. Both Ski and Board pay tax at the rate of
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