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Levered Beta and Unlevered Beta Essay Preview: Levered Beta and Unlevered Beta Report this essay Levered Beta and Unlevered BetaModigliani and Miller (1963) with Corporate Tax (marginal tax-rate = T):VL = VU + T*DLDL + EL = VU + T*DLDL (1-T) + EL = VU .
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