MM Proposition I without taxes proposes that: there is one ideal capital structure for each firm.

29.MM Proposition I without taxes proposes that:

there is one ideal capital structure for each firm.

the value of an unlevered firm exceeds that of a levered firm

leverage does not affect the value of the firm.

the value of a levered firm exceeds that of an unlevered firm

shareholder wealth is directly affected by the capital structure selected

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