Wat you want, but no other electronic devices. Question 16 According to the pecking order theory, which of the following are correct? 1 There is an inverse relationship between a firm's proft level and its debt level Firms prefer to issue new debt rather than using retained earnings III, I internal funds are exhausted, then the firm will issue debt with the aim to hit its optimal debt ratio IV. Equity is expensive and due to information asymmetry, equity issuance drops market value. LllL and IV I and IV Land all Land IV Previous No new data to save. Last checked at 12:19