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Basic Question 8 of 18
MM Propositions without Taxes imply if a company uses more leverage: I. its WACC will be lower.
II. its value will increase.
III. its equity beta will increase.
IV. its debt cost will increase.
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I am happy to say that I passed! Your study notes certainly helped prepare me for what was the most difficult exam I had ever taken.
Andrea Schildbach
Learning Outcome Statements
explain the Modigliani-Miller propositions regarding capital structure
CFA® 2024 Level I Curriculum, Volume 2, Module 6.