Debt amount ($ million) Present value of expected distress and agency costs (5 million) 0 10 10 20 20 30 40 50 0 0 0 72 2 32 4 23 8 49 11 45 Debt amount ($ million) Present value of expected distres...

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Debt amount ($ million) Present value of expected distress and agency costs (5 million) 0 10 10 20 20 30 40 50 0 0 0 72 2 32 4 23 8 49 11 45 Debt amount ($ million) Present value of expected distress and agency costs (5 million) 0 10 10 20 20 30 40 50 0 0 0 72 2 32 4 23 8 49 11 45...

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Debt amount ($ million) Present value of expected distress and agency costs (5 million) 0 10...

Question:

Debt amount ($ million) Present value of expected distress and agency costs (5 million) 0 10...

Question:

Debt amount ($ million) Present value of expected distress and agency costs (5 million) 0 10 10 20 20 30 40 50 0.0 -0.72 -2.32 - 4.23 - 8.49 - 11.45 Debt amount ($ million) Present value of expected distress and agency costs (5 million) 0 10 10 20 20 30 40 50 0.0 -0.72 -2.32 - 4.23 - 8.49 - 11.45

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