Corporations are taxed on their profits (instead of their income) specifically to avoid discouraging investment in a perverse way.
Bankruptcy risk is certainly relevant, but its even more relevant for small businesses, which still have reasonable interest rates. If bankruptcy risk is what drives high MARRs that implies that a company that uses a 30% MARR has a ~20%/year default rate (30-10%) which is implausibly high.
Corporations are taxed on their profits (instead of their income) specifically to avoid discouraging investment in a perverse way.
Bankruptcy risk is certainly relevant, but its even more relevant for small businesses, which still have reasonable interest rates. If bankruptcy risk is what drives high MARRs that implies that a company that uses a 30% MARR has a ~20%/year default rate (30-10%) which is implausibly high.