The trouble with MMs argument is that it ignores the fact that individuals can deduct interest for
Question:
“The trouble with MM’s argument is that it ignores the fact that individuals can deduct interest for personal income tax.” Show why this is not an objection. What difference would it make if individuals were not allowed to deduct interest for personal tax?
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Consider a firm that is levered has perpetual expected cash flow X and has an interest rate for ...View the full answer
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Related Book For 
Principles of Corporate Finance
ISBN: 978-0072869460
7th edition
Authors: Richard A. Brealey, Stewart C. Myers
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