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You are asked by a wealthy businesswoman to help construct a permanent endowment for a local university. She asks you whether you believe the university

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You are asked by a wealthy businesswoman to help construct a permanent endowment for a local university. She asks you whether you believe the university should be required to add investment gains to the principal of the endowment or whether it would be preferable for the gains to be available for spending. How would you respond and why

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