Which is not an intermediate in the Hofmann degradation reaction? 
Definitions:
Miller's Theory
Miller's Theory, part of the Modigliani-Miller theorem, posits that in perfect markets, the value of a company is unaffected by how it is financed, regardless of whether it's through debt or equity.
MM Propositions
The Modigliani-Miller propositions, fundamental theories in corporate finance that suggest, under certain conditions, the value of a firm is unaffected by its capital structure.
Financial Leverage
Utilizing borrowed money to enhance the possible gains from an investment.
Tax Rate
The proportion of tax that an individual or business must pay on their earnings.
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