2. A company sells a new issue of 10 year, 12 per cent bonds of 100 each,...
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2. A company sells a new issue of 10 year, 12 per cent bonds of 100 each, at par. It will pay interest annually and repay bonds at 10 premium on maturity. What is the cost of bonds? If the tax rate is 30 percent, what is the after-tax cost of the bond?
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