NO.PZ201601200500002107
问题如下：
According to the pecking order theory, MBG’s announced capital structure change may be optimal:
选项：
A.because debt is cheaper than equity on an after-tax basis.
if new equity is issued before new debt as a source of capital
if new debt is issued after all internally generated funds are first used as sources of capital.
解释：
C is correct. If internally generated funds have already been fully used, the use of new debt may be optimal according to the pecking order theory of capital structure.
A为什么不对呢~
