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When both debt and equity become riskier due to an increase in the firm's leverage, the firm remains worth exactly the same and stays exactly

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When both debt and equity become riskier due to an increase in the firm's leverage, the firm remains worth exactly the same and stays exactly as risky (in a perfect market) Conceptually, what would it take for the firm to become worth more and/or safer even when both debt and equity become riskier due to an increase in the firm's leverage? Q 16.29

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