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Prepare a detailed and thorough business memo in good business format describing the advantages and disadvantages of each scenario described above. Keep in mind that you are writing to entrepreneurs, not accountants. Which alternative would you recommend and why? Be sure to justify your answer by comparing the merits of raising capital through bonds, loans, and common stock. Keep in mind that you will need to document your memo with references as to the sources of any outside information as Zeller and Merkel will want to know where the information came from.

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