Question: Question 2 (20 Marks) Derive the Hamada model under the assumptions of 1) no taxes 2) taxes and explain how the model relates to Miller-Modigliani

Question 2 (20 Marks) Derive the Hamada model under the assumptions of 1) no taxes 2) taxes and explain how the model relates to Miller-Modigliani propositions 1 and 2

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