Abstract In this paper. we revisit a frequently employed simplification within the WACC approach that company cost of capital $$k_{V}$$ k V is supposed to be invariant to the debt ratio and therefore equal to the unlevered cost $$k_{U}$$ k U . Even though we know from Miles and Ezzell (1980) that $$k_{V}$$ k V formally differs from $$k_{U}$$ k U . treating both costs as equal strongly... https://jalyttlers.shop/product-category/desk-fan/