1) Analyze and discuss the following proposition by Franco Modigilani and Merton Milles (MM): "

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1) Analyze and discuss the following proposition by Franco Modigilani and Merton Milles (MM): "...when there are no taxes and the capital markets are functioning well, the market value of a company does not depend on its capital structure. In other words, financial directors cannot increase value by changing the mix of securities used to finance the company Use hypothetical numerical examples to argue your point.