Since debt is typically a cheaper source of financing than is equity, why don't firms use as close to 100% debt financing as possible?

Name: Since debt is typically a cheaper source of financing than is equity, why don't firms use as close to 100% debt financing as possible?
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The Answer of Since debt is typically a cheaper source of financing than is equity, why don't firms use as close to 100% debt financing as possible?

Since Debt Is Typically a Cheaper Source of Financing Than