Funds for Capital Budgeting Capital structure and capital budgeting must be aligned to ensure sufficient cash to undertake capital investment. Failure to
match these cash flows can spell disaster. The Modigliani and Miller approach to capital theory suggests firm valuation is irrelevant to the firm’s capital
structure. Required: Research arguments for and against M & M’s theory. Questions: Should NPV projects be evaluated based on project merits and
independent of the financing used to fund them? Why? Does your research of M & M theory indicate this theory is accurate and true or alternatively has
flaws. Why? Independent of M & M theory, identify advantages and disadvantages of debt and equity financing. Required: Include an Introduction, subtopics
of each area above, and a Conclusion. Use APA formatting and include a title and reference page. A minimum of 5 external sources is required. See attached.