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Which of the following decisions always benefits a firm's existing shareholders? . All of these answers. O b. Reinvesting cash flows in positive NPV projects.

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Which of the following decisions always benefits a firm's existing shareholders? . All of these answers. O b. Reinvesting cash flows in positive NPV projects. O C. Paying free cash flows as either dividends or through stock repurchases, whichever is most tax efficient. d. Retaining excess cash flows so that management may pursue projects in the future. O e. Investing in publicly traded securities on behalf of shareholders. Clear my choice

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